Korea’s longest recession finally ended 0%대 저성장 늪 9분기만에 탈출 JULY 26, 2013 07:58 The Korean economy finally got out of its longest recession period as its quarterly growth recovered the 1 percent range for the first time since the second ......quarter of 2011. Most economic pundits had predicted that the country’s growth rates would remain in the zero percentage range through the second half of this year. According to an announcement on the second quarter of GNP by Bank of Korea on Thursday, real gross national product increased by 1.1 percent from the previous quarter. The country’s quarterly growth had remained in the zero percentage range for eight consecutive quarters after recording 1.3 percent growth during the first quarter of 2011. Compared with the corresponding period of last year, Korea’s gross national product rate rose by 2.3 percent in the second quarter. Government spending and construction investment led the economic growth during the second quarter. The increase in government spending doubled compared with the previous quarter with 2.4 percent. Investment in the construction sector also soared by 3.3 percent as the government vigorously invested into social overhead capital and the construction of innovative cities progressed at a rapid pace. A source at the Bank of Korea said, “The government’s contribution to the 1.9 percent growth was 0.3 percentage point in the first half of the year, and it is expected to grow bigger in the latter half of this year. ” IT products such as smartphones and semiconductors led the growth in export, which takes up the greatest share in Korea’s gross domestic product. Export saw a quarterly increase of 1.5 percent. Benefits from increased export mostly led by certain conglomerates, however, was not felt by the people. Over the same period, gross domestic income, which indicates the nation’s real consumption power, rose by 2.7 percent thanks to the decrease in global oil and semiconductor prices. The Bank of Korea said that despite negative external factors such as weak yen and slow growth of China, the domestic economy will grow more toward the end of this year as the government originally forecast. Jeong Yeong-taek, the head of the central bank`s economic statistics bureau, said, “Korea’s growth rates are still low, remaining below its potential growth rate of the 3 to 4 percent range. But the Korean economy is more active than expected amid harsh environments.” The Korean economy finally got out of its longest recession period as its quarterly growth recovered the 1 percent range for the first time since the second quarter of 2011. Most economic pundits had predicted that the country’s growth rates would remain in the zero percentage range through the second half of this year. According to an announcement on the second quarter of GNP by Bank of Korea on Thursday, real gross national product increased by 1.1 percent from the previous quarter. The country’s quarterly growth had remained in the zero percentage range for eight consecutive quarters after recording 1.3 percent growth during the first quarter of 2011. Compared with the corresponding period of last year, Korea’s gross national product rate rose by 2.3 percent in the second quarter. Government spending and construction investment led the economic growth during the second quarter. The increase in government spending doubled compared with the previous quarter with 2.4 percent. Investment in the construction sector also soared by 3.3 percent as the government vigorously invested into social overhead capital and the construction of innovative cities progressed at a rapid pace. A source at the Bank of Korea said, “The government’s contribution to the 1.9 percent growth was 0.3 percentage point in the first half of the year, and it is expected to grow bigger in the latter half of this year.” IT products such as smartphones and semiconductors led the growth in export, which takes up the greatest share in Korea’s gross domestic product. Export saw a quarterly increase of 1.5 percent. Benefits from increased export mostly led by certain conglomerates, however, was not felt by the people. Over the same period, gross domestic income, which indicates the nation’s real consumption power, rose by 2.7 percent thanks to the decrease in global oil and semiconductor prices. The Bank of Korea said that despite negative external factors such as weak yen and slow growth of China, the domestic economy will grow more toward the end of this year as the government originally forecast. Jeong Yeong-taek, the head of the central bank`s economic statistics bureau, said, “Korea’s growth rates are still low, remaining below its potential growth rate of the 3 to 4 percent range. But the Korean economy is more active than expected amid harsh environments.” 0%대 저성장 늪 9분기만에 탈출 JULY 26, 2013 07:58 동아일보 한국경제가 역사상 유례없는 최장기 침체의 터널에서 드디어 탈출했다. 2011년 2분기(46월) 이후 여덟 분기째 이어져 온 전 분기 대비 0%대 성장률 행진이 아홉 분기 만에 깨진 것이다. 당초 대부분의 경제전문가들은 올 2분기에도 성장률 1%의 벽을 넘지 못 할 것으로 전망했다. 한국은행이 25일 발표한 2분기 실질 국내총생산(속보)에 따르면 2분기 한국의 국내총생산(GDP)은 전 분기보다 1.1% 증가했다. 전 분기 대비 성장률은 2011년 1분기(13월) 1.3%를 나타낸 이래 여덟 분기 연속 0%대를 벗어나지 못했다. 2분기 실질 GDP는 작년 동기 대비로는 2.3% 증가했다. 2분기 경제성장을 이끈 것은 정부 지출과 건설 투자였다. 정부소비 증가율은 전 분기 대비 2.4%로 1분기(1.2%)의 두 배나 됐다. 건설투자도 정부의 사회간접자본(SOC) 투자, 혁신도시 건설 등이 활발하게 이뤄지며 3.3%의 높은 수준을 유지했다. 한은 관계자는 올 상반기 성장률 1.9% 가운데 정부의 기여도는 0.3%포인트(15.8%)라며 하반기에는 정부의 성장 기여도가 더 높아질 것이라고 전망했다. 국내총생산에서 차지하는 비중이 가장 높은 수출 부문에선 스마트폰, 반도체 등 정보기술(IT) 상품이 성장을 견인했다. 수출은 전 분기보다 1.5% 늘었다. 다만 IT 업종의 일부 대기업이 수출을 이끌었기 때문에 국민들이 느끼는 체감 경기와는 다소 괴리가 있는 것으로 보인다. 국민의 실질 구매력을 나타내는 국내총소득(GDI)은 국제유가 하락과 반도체 가격 하락에 힘입어 전 분기보다 2.7% 늘었다. 한은은 엔화 약세와 중국 성장둔화 등 대외 불안요인들이 있긴 하지만 국내 경기가 당초 정부가 기대한 상저하고의 흐름을 이어나갈 것으로 예상했다. 정영택 한은 경제통계국장은 여전히 성장률이 잠재성장률(연 34%대) 밑에서 움직이고 있어 지금도 높은 수준이라고 말할 순 없다면서도 어려운 여건하에서도 우리 경제는 예상보다 활발하게 움직이고 있다고 말했다. 홍수영 기자 gaea@donga
Posted on: Fri, 26 Jul 2013 12:13:28 +0000
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