Fiscal Balance in Korea
Korea - Fiscal BalanceThe economy had a sluggish start to the year. In the first quarter, output grew at the slowest pace since the financial crisis, on the back of a fall in fixed investment. Particularly, business investment plunged owing to weakness in the semiconductor industry. Government consumption, however, grew robustly and the external sector contributed the most to economic growth in six years, although only thanks to lower imports. More recently, the economy has showed tentative signs of a small rebound in Q2: In April, the manufacturing sector narrowly expanded for the first time in six months and consumers became optimistic about economic conditions for the first time in seven months. Merchandise exports, however, fell for the fifth month running in April. Meanwhile, in the political arena, the government unveiled USD 5.9 billion in extra spending measures on 23 April, which should slightly lift growth later this year.
Korea - Fiscal Balance Data
|Fiscal Balance (% of GDP)||1.0||0.6||0.0||1.0||1.4|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||1.87||1.55 %||May 13|
|Exchange Rate||1,188||0.21 %||May 13|
|Stock Market||2,079||-0.40 %||May 13|
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May 20, 2019
The Korean won has had a rough ride in recent weeks, trading at KRW 1,191 per USD on 16 May, which marked a 4.8% depreciation from the same day a month earlier and an over two-year low against the greenback. The currency’s woes primarily stem from global events, including China’s announcement on 13 May that it would retaliate against increased U.S. tariffs by raising its own tariffs on USD 60 billion worth of American shipments.
May 2, 2019
The manufacturing Purchasing Managers’ Index (PMI), produced by Nikkei and reported by IHS Markit, recovered in April, rising to 50.2 from 48.8 in March.
May 2, 2019
Consumer prices rose 0.4% in month-on-month terms in April, contrasting the 0.2% fall registered in March.
May 1, 2019
Merchandise exports fell 2.0% over the same month last year in April to a total of USD 48.9 billion, following the 8.2% contraction logged in March (USD 47.1 billion).
April 30, 2019
Industrial production in the mining, manufacturing, and gas and electricity sectors dipped 2.8% over the same month a year prior in March, following the revised 3.4% decline registered in February (previously reported: -2.7% year-on-year).