| “S. Korea Will Achieve 4.1% Growth, 3.9% Inflation in H2”: Report | |
| 기사입력 2011.07.28 14:16:42 | 최종수정 2011.07.28 15:26:57 |    |
The Korea Economic Research Institute (KERI) forecast a 4.1% growth for South Korea in the second half (H2), which is only slightly higher than the first half (3.8%).
Signs of fiscal tightening, normalization of monetary pressures, and declining real estate market in Korea, fiscal problems in advanced countries, austerity measures by emerging countries, and other internal and external factors will further compound uncertainties in the global environment, which means a great leap in economic growth is unlikely, said the KERI.
The annual growth forecast was significantly lower than last year’s 6.2%, at 3.9%.
Private consumption was predicted to rise 0.2% points from the first half to post 3.2%, owing to sturdy growth in employment/household income and easing inflation pressures.
Mounting uncertainties will reflect on business investment decisions, as investments in facilities continue to slow down from first half’s 9.5% to 6.9% in the second half.
Imports will rise faster than exports, while services balance reports greater deficit, which means total current account balance will see lesser surplus than the first half ($8.4 billion), at $6.4 billion.
Consumer prices will rise 3.9% in the second half, which is less steep than the first half’s 4.3%, but food, public utility, and housing prices are still susceptible to additional hikes, the report warned.
[Written by Samji Chung / edited by Soyoung Chung]
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
Signs of fiscal tightening, normalization of monetary pressures, and declining real estate market in Korea, fiscal problems in advanced countries, austerity measures by emerging countries, and other internal and external factors will further compound uncertainties in the global environment, which means a great leap in economic growth is unlikely, said the KERI.
The annual growth forecast was significantly lower than last year’s 6.2%, at 3.9%.
Private consumption was predicted to rise 0.2% points from the first half to post 3.2%, owing to sturdy growth in employment/household income and easing inflation pressures.
Mounting uncertainties will reflect on business investment decisions, as investments in facilities continue to slow down from first half’s 9.5% to 6.9% in the second half.
Imports will rise faster than exports, while services balance reports greater deficit, which means total current account balance will see lesser surplus than the first half ($8.4 billion), at $6.4 billion.
Consumer prices will rise 3.9% in the second half, which is less steep than the first half’s 4.3%, but food, public utility, and housing prices are still susceptible to additional hikes, the report warned.
[Written by Samji Chung / edited by Soyoung Chung]
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
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