Public Debt in Korea
Korea - Public Debt
Economic activity remains under siege in the second quarter, with recent data pointing to downbeat domestic and external demand. In April, consumer confidence fell to a one-decade low, while employment levels continued to reel in the same month, boding ill for household spending. Moreover, business confidence in May and the manufacturing PMI for April dipped to the lowest levels since early 2009. On the external front, the trade balance posted the first deficit in over eight years in April as a sharp fall in automobile shipments suppressed exports; in further bad news for the manufacturing industry, exports contracted over 20% in the first 20 days of May. Nevertheless, ample fiscal and monetary stimulus, as well as a solid effort to contain the virus domestically, should help spark a healthy recovery in H2 this year.Korea - Public Debt Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Public Debt (% of GDP) | 37.3 | 37.3 | 37.6 | 37.7 | - |
Korea Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.68 | 1.55 % | Dec 31 |
| Exchange Rate | 1,156 | 0.21 % | Dec 31 |
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Economic News
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Korea: Second estimate confirms a sharp contraction in the first quarter
June 2, 2020
According to a second GDP release from the Bank of Korea, the economy contracted 1.3% in quarter-on-quarter seasonally-adjusted (qoqsa) terms in the first quarter, contrasting the 1.3% expansion in the final quarter of last year and slightly softer than the first estimate of a 1.4% decline.
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Korea: Manufacturing PMI ticks down in May
June 1, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) ticked down to 41.3 in May from 41.6 in April, moving slightly further below the 50-threshold that separates an improvement from a deterioration in the manufacturing sector over the previous month. May’s print was driven by the second sharpest fall in output since January 2009 easing a notch from April, due to weak demand, particularly from abroad.
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Korea: Exports continue to plummet in May
June 1, 2020
Merchandise exports plunged 23.7% year-on-year in May, less steep than the 24.4% drop recorded in April, totaling USD 34.9 billion in May (April: USD 36.6 billion).
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Korea: Industrial output falls at sharpest rate since September 2018 in April
May 29, 2020
Industrial production fell 4.5% year-on-year in April (March: +7.4% yoy).
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Korea: Forward-looking manufacturing business confidence ticks down in June
May 29, 2020
The Bank of Korea’s forward-looking business confidence indicator for manufacturers decreased to 49 in June from 50 in May, marking the lowest result since February 2009.
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