Korean Consumers Confident

Flag of Korea, 1889

While many consumers in the West are discouraged, those in South Korea are becoming more optimistic about their economy according to a new poll:

S.Korea June consumer sentiment at near 7-yr high

SEOUL, July 27 (Reuters) – South Korea’s key consumer sentiment index hit its highest in nearly seven years, central bank data showed on Monday, raising further questions about how long the government’s accommodative policy would be maintained.

Morgan Stanley ( MS – news – people ) also upgraded its forecasts for Asia’s fourth-largest economy to the best among major investment banks…

The Bank of Korea said in a statement its consumer sentiment index — which measures sentiment in six categories — hit 109 in July, up from 106 in June and the highest since touching 114 in the third quarter of 2002. The index had been compiled on a quarterly basis until the second quarter of 2008.

A reading above 100 indicates that most consumers are optimistic about economic conditions and their standard of living for the coming months.

Morgan Stanley also upgraded on Sunday its forecasts for South Korea’s GDP growth in 2009 to -0.5 percent from -1.8 percent and to 5.0 percent from 3.8 percent in 2010. http://www.forbes.com/feeds/afx/2009/07/26/afx6701548.html

In previous recessions Asian nations have tended to lag behind the USA in improvement. But the Asians are not in debt like the USA and have modern and competitive manufacturing capabilities.

The Bible shows a time when the trading nations (which would include at South Korea) will prosper even more, but the Anglo-descended nations will be devastated.

Some articles of possibly related interest (including the first announcement on one specifically about Korea) would include the following:

Korea in Prophecy, Any Witness? Does God have a plan for the Koreans? Is Korea mentioned in any prophecies? Will Koreans be among the first in the Kingdom of God? 한국의 언어로 : 한국 예언, 모든 증인에?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?