Fiscal Balance in Korea
Korea - Fiscal BalanceThe outlook for the first quarter moderated in recent weeks as the coronavirus outbreak has disrupted supply chains and is expected to weigh heavily on Chinese demand for Korean manufactured goods. That said, growth should remain robust thanks to strong household spending, buttressed by gains in employment and as consumer confidence hit a 19-month high in January. Moreover, fixed investment should have benefited from higher business sentiment in February and strong government spending targeted at supporting the private sector. This follows Q4’s acceleration which was propelled by a robust external sector. In other news, government officials are expected to unveil an emergency spending plan to counter the impact of the coronavirus. President Moon Jae-in announced USD 365 million in loans to support the tourism and shipping sectors in early February. The next round of stimulus is expected to prop up export-oriented firms. This comes as the number of cases in Korea jumped in recent days prompting a number of nations to tighten travel restrictions to Korea.
Korea - Fiscal Balance Data
|Fiscal Balance (% of GDP)||0.5||0.0||1.0||1.3||1.6|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||1.68||1.55 %||Dec 31|
|Exchange Rate||1,156||0.21 %||Dec 31|
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February 25, 2020
The Bank of Korea’s composite consumer sentiment index decreased to 96.9 in February—the largest drop in a single month since June 2015—from 104.2 in January.
February 13, 2020
Merchandise exports decreased 6.3% year-on-year in January, which was down from the 5.3% drop recorded in December, totaling USD 43.3 billion in January (December: USD 45.7 billion).
February 4, 2020
Consumer prices increased 0.6% over the prior month in January, stronger than December’s 0.2% increase.
February 3, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) ticked down to 49.8 in January from 50.1 in December, moving slightly below the 50-threshold that separates an improvement from a deterioration in the manufacturing sector over the previous month. January’s print was driven by a fall in employment and a virtual standstill in production levels.
January 31, 2020
Industrial production, which includes output from the mining, manufacturing, and electricity and gas sectors, surged 4.2% year-on-year in December, contrasting November’s revised 0.2% drop (previously reported: -0.3% year-on-year).