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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH KOREA
Earlier data showed South Korea consumer sentiment rose to 100.9 in June from 98.4 in May. This tick higher is consistent with a resilient local GP growth backdrop, see the first chart below. However, the index remains sub earlier 2024 highs of 101.9 (recorded in February).
- In terms of the sub-indices for the index, most ticked higher. The domestic economy situation rose to 71 from 67. Expectations around the economic outlook also firmed. Spending plans were more mixed but mostly higher.
Fig 1: South Korean Headline Consumer Sentiment Index & GDP Y/Y
Source: MNI - Market News/Bloomberg
- On the prices front, the expected inflation level fell back to 3.0% from 3.2% in May. We haven't been able to breach the 3% level though on the downside, so far in 2024.
- Headline inflation pressures are moving in the right direction in terms of a pivot towards easing by the BOK, see the chart below, although the central bank is likely to want to see further downside in consumer inflation expectations.
- In terms of other price changes, expected wages were steady, but house price expectations did rise noticeably (to 108 from 101 in May).
Fig 2: South Korean Consumer Inflation Expectations & CPI Y/Y
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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