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South Korean consumers' confidence inched up in November from the previous month, but it remained close to a nine-month low as the economy continued to lose steam, the central bank said Monday.
The consumer sentiment index -- a gauge of consumers' overall economic outlook, living conditions and future spending -- came in at 99 for November, up from a nine-month low of 98 tallied for October, according to a survey by the Bank of Korea (BOK).
A reading below the benchmark 100 means pessimists outnumber optimists. The survey, based on a poll of 2,006 households in 56 cities nationwide, was conducted from Nov. 12-19.
The data came as Asia's fourth-largest economy loses ground on weak exports and sluggish domestic demand. The central bank cut the key rate in July and October and also lowered its 2012 and 2013 growth estimates to 2.4 percent and 3.2 percent, respectively.
South Korean consumers' inflation expectations hit a near two-year low in November as price pressure is easing amid the slowing economy, the bank said.
South Korean consumers forecast in November that inflation would reach an annual average of 3.3 percent over the next 12 months, down from 3.4 percent tallied in October, the BOK said. It marked the lowest level since 3.3 percent in December 2010.
Pointing to the easing inflationary pressure, the index gauging consumers' outlook for inflation fell to 135 in November, compared with 137 in the previous month.
The BOK narrowed the inflation target band to 2.5-3.5 percent for 2013-2015 and removed the mid-point inflation target for the new range to prevent inflation expectations from being anchored over the long haul. (Yonhap News)
The consumer sentiment index -- a gauge of consumers' overall economic outlook, living conditions and future spending -- came in at 99 for November, up from a nine-month low of 98 tallied for October, according to a survey by the Bank of Korea (BOK).
A reading below the benchmark 100 means pessimists outnumber optimists. The survey, based on a poll of 2,006 households in 56 cities nationwide, was conducted from Nov. 12-19.
The data came as Asia's fourth-largest economy loses ground on weak exports and sluggish domestic demand. The central bank cut the key rate in July and October and also lowered its 2012 and 2013 growth estimates to 2.4 percent and 3.2 percent, respectively.
South Korean consumers' inflation expectations hit a near two-year low in November as price pressure is easing amid the slowing economy, the bank said.
South Korean consumers forecast in November that inflation would reach an annual average of 3.3 percent over the next 12 months, down from 3.4 percent tallied in October, the BOK said. It marked the lowest level since 3.3 percent in December 2010.
Pointing to the easing inflationary pressure, the index gauging consumers' outlook for inflation fell to 135 in November, compared with 137 in the previous month.
The BOK narrowed the inflation target band to 2.5-3.5 percent for 2013-2015 and removed the mid-point inflation target for the new range to prevent inflation expectations from being anchored over the long haul. (Yonhap News)
