Korea Economic Outlook
February 25, 2020The 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 Economic GrowthThis year, economic growth is expected to accelerate slightly due to a recovery in fixed investment and as the technology and construction sectors strengthen. Nevertheless, weaker-than-expected growth in China, the coronavirus outbreak in the region and political tensions with Japan pose major downside risks. FocusEconomics panelists project the economy will grow 2.1% in 2020, which is down 0.1 percentage points from last month’s forecast, and 2.4% in 2021.
Korea Economy Data
5 years of Korea economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Bond Yield||1.68||1.55 %||Dec 31|
|Exchange Rate||1,156||0.21 %||Dec 31|
Request a Trial
bet360备用网址 Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Korea Economic News
March 3, 2020
bet360备用网址Consumer prices were flat over the prior month in February, following January’s 0.6% increase.
Korea: Forward-looking manufacturing business confidence falls to the lowest level since February 2019 in March
February 26, 2020
The Bank of Korea’s forward-looking business confidence indicator for manufacturers decreased to 69 in March from 77 in February, while confidence in the non-manufacturing sector ticked down to 66 points in March from 79 in the month prior.
February 25, 2020
bet360备用网址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
bet360备用网址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
bet360备用网址Consumer prices increased 0.6% over the prior month in January, stronger than December’s 0.2% increase.