Korea Economic Outlook
September 19, 2017Despite the economy’s resilient performance in Q2, available data from Q3 shows signs that growth may be abating. Although exports were healthy in August, Korea’s all-important external sector is expected to slow in the coming months. Moreover, a continued decline in Chinese tourism translated into job losses in tourism-related sectors in August. Also of concern are legislative measures to cool the housing market; given that financial conditions are tight, the market could see a correction heading into 2018. High household debt in particular is increasingly worrisome. In October, the government is expected to announce measures to tackle household debt, although these will likely thwart investment. Furthermore, in early September U.S. President Donald Trump announced he is reconsidering the U.S.-South Korea free trade agreement, which came at an unfortunate time given the heightened geopolitical tensions with North Korea. Tensions with the North dragged on consumer confidence in August, which declined after six months of consecutive improvements.
Korea Economy Data
5 years of Korea economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.40||0.29 %||Oct 16|
|Exchange Rate||1,128||-0.10 %||Oct 16|
|Stock Market||2,480||0.26 %||Oct 16|
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Korea Economic Growth
September 19, 2017The proposed 2018 budget, which includes a 4.6% increase in fiscal spending, is expected to give the economy a boost. However, headwinds for the external sector may weigh on the speed of economic growth in 2018. FocusEconomics panelists expect GDP to expand 2.8% in 2017. In 2018, the economy is forecast to grow 2.7%, which is up 0.1 percentage points from last month’s estimate.
Korea Economic News
October 2, 2017
The manufacturing sector entered expansionary territory in September, according to the Nikkei manufacturing Purchasing Managers’ Index (PMI) reported by IHS Markit.
October 1, 2017
Exports extended their double-digit growth streak to nine months in September.
September 29, 2017
Industrial production grew 2.7% in August over the same month last year, surpassing market analysts’ expectations of 2.2% growth.
September 29, 2017
The Bank of Korea’s forward-looking business confidence indicator (BSI) for the manufacturing sector fell to 79 points in October from 83 points in September.
September 27, 2017
Consumer prices rose 0.1% in September compared to the previous month, representing the lowest monthly increase in consumer prices since June and a deceleration compared to August’s 0.6% increase.