South Koreans' economic outlook has worsened significantly, as consumer expectations for economic momentum dropped by seven points to 74 in November, according to a recent survey.

The decline in consumer expectations is the largest since the summer of 2022, a period when central banks worldwide raised interest rates aggressively to combat inflation. This decline in sentiment aligns with the aftermath of Donald Trump's election victory in the United States. It reflects increasing concerns among South Koreans about the economy and highlights the challenges faced by the South Korean economy in navigating a complex global financial landscape.

The sharp decline in consumer sentiment underscores the need for careful economic management and policy decisions to address the concerns of South Koreans. It is crucial for the government and relevant authorities to take appropriate measures to restore confidence and stimulate economic growth.