Korea Economic Outlook
March 20, 2018Recent indicators point to an economy in good shape so far in 2018, following the slowdown in year-on-year growth in the fourth quarter last year. In February, consumer confidence declined month-on-month, but continued to indicate healthy optimism. Moreover, although annual export growth decelerated in February due to fewer working days, it nonetheless beat market expectations. Meanwhile, on 15 March, the government announced it would submit an extra budget bill to parliament for this fiscal year in April. The bill will include USD 3.8 billion in additional spending aimed at reducing youth unemployment. On the diplomatic front, there has been a flurry of activity in recent weeks concerning the Korean Peninsula. For the first time ever, the North Korean leader met with senior South Korean officials earlier this month. He also reportedly agreed to meet with the South Korean president in April before attending a tentatively-scheduled meeting with the U.S. president in May.
Korea Economic GrowthIncreased government spending should boost the economy this year. Moreover, reduced geopolitical tension on the Korean peninsula could also translate into improved consumer and business confidence. However, high household debt and recent government measures to tame rising housing prices could weigh on economic prospects. Met the why particular panelists forecast the economy to grow 3.0% in 2018, which is up 0.1 percentage points from last month’s forecast, and 2.8% in 2019.
Korea Economy Data
5 years of Korea economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.67||1.55 %||Apr 20|
|Exchange Rate||1,067||0.21 %||Apr 20|
|Stock Market||2,476||-0.11 %||Apr 20|
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Korea Economic News
April 12, 2018
At its 12 April meeting, the Monetary Policy Board of the Bank of Korea (BOK) decided to keep the base rate unchanged at 1.50%, a move that was widely expected by market analysts.
April 3, 2018
Consumer prices declined 0.1% in March from the previous month, according to the National Statistics Office of Korea.
April 2, 2018
In March, merchandise exports increased 6.1% compared to the same month last year—more than February’s 4.0%—and totaled USD 51.6 billion.
April 2, 2018
The manufacturing sector signaled the first deterioration in operating conditions in three months in March.
March 30, 2018
Industrial production in the mining, manufacturing, and gas and electricity sectors dropped 6.4% in February compared to the same month last year, contrasting January’s revised 4.3% increase (previously reported: +4.6% year-on-year).