Korea Economic Outlook
January 22, 2019The economy appeared to have regained some momentum in the fourth quarter of 2018, after growth slowed significantly in the third quarter. The unemployment rate averaged slightly lower in Q4 compared to Q3, while merchandise exports accelerated in the same period despite slowing global trade. Public spending seems to have picked up in the same period. That said, additional data suggests that the economy remains far from reaching full potential, with both consumer and business confidence posting weak results throughout Q4. In other news, household lending growth slowed for the second consecutive year in 2018, suggesting that the government’s stricter financing rules are having the desired effect. Nevertheless, the rate of increase in 2018 was still higher than its target.
Korea Economic GrowthHigher government spending should support economic activity this year. Moreover, although monetary policy will be tighter, it will remain accommodative by historical standards. However, an expected slowdown in export growth and high domestic household debt weigh on prospects. Met the why particular panelists forecast the economy will grow 2.5% in 2019, which is down 0.1 percentage points from last month’s forecast, and 2.5% again in 2020.
Korea Economy Data
5 years of Korea economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.05||1.55 %||Jan 30|
|Exchange Rate||1,116||0.21 %||Jan 30|
|Stock Market||2,206||-0.11 %||Jan 30|
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Korea Economic News
April 18, 2019
At its 18 April monetary policy meeting, the Bank of Korea held the base rate steady at 1.75%, as had been expected by most market analysts, where it has been since November last year. April’s decision reflected weak inflation in recent months and lower Bank of Korea inflation forecasts.
April 2, 2019
Consumer prices fell 0.2% in March compared to the previous month, contrasting the 0.4% increase in February and confounding analysts’ expectations of a rise.
April 1, 2019
The manufacturing Purchasing Managers’ Index (PMI), produced by Nikkei and reported by IHS Markit, perked up to 48.8 in March, from 47.2 in February.
April 1, 2019
Merchandise exports fell 8.2% in March—a less pronounced drop than February’s revised 11.4% fall (previously reported: -11.1% year-on-year)—to total USD 47.1 billion.
March 29, 2019
Industrial production in the mining, manufacturing, and gas and electricity sectors dipped 2.7% in February compared to the same month a year earlier, a sharper fall than the downwardly revised 0.2% decline registered in January (previously reported: +0.1% year-on-year).