Population in Korea
Korea - PopulationThe economy contracted in Q2 amid the fallout from the pandemic, with the all-important external sector leading the downturn. Turning to Q3, recent data indicates a recovery is underway: In August, the unemployment rate fell, which suggests an improving labor market, while both consumer confidence and manufacturing PMI improved. Moreover, business confidence also improved throughout the period August-September. Less positively, however, exports declined in year-on-year adjusted terms throughout the first 20 days of September. Meanwhile, new U.S. sanctions against Huawei that took effect on 15 September are likely to pummel vital electronics exports ahead. On the policy front, the government proposed a fourth supplementary budget worth USD 6.7 bn on 10 September to bolster the economy amid ongoing pandemic related headwinds.
Korea - Population Data
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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October 14, 2020
At its meeting on 14 October, the Bank of Korea (BOK) kept the base rate at its record low of 0.50%, in line with market expectations. The Bank’s decision to hold came amid weak activity and a deteriorating labor market.
October 6, 2020
Consumer prices increased 0.66% in September over the previous month, slightly up from the 0.61% increase recorded in August.
October 5, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose to 49.8 in September from August’s 48.5, bordering the 50-threshold that separates an improvement from a deterioration in the manufacturing sector over the previous month. The print came as output grew for the first time in seven months.
October 1, 2020
Merchandise exports rose 7.7% in annual terms in September, rebounding from August’s 10.1% decline, amid an increasing demand for IT products due to the pandemic boosting home working.
September 29, 2020
Business confidence in the manufacturing sector was unchanged at September's 68.0 in October.