Free Trial
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
The recovery in South Korean consumer sentiment paused in August. The headline index eased back to 103.1, from 103.2 in July. Still, we are comfortably off recent cyclical lows, and the index is still suggesting an improved y/y GDP backdrop as we progress through H2, see the first chart below.
- The main headwind that appeared in August was sentiment around the domestic economy, which dipped to 80 from 84. Spending plans remain around recent highs though.
Fig 1: South Korean Consumer Sentiment & GDP Y/Y
Source: MNI - Market News/Bloomberg
- On the inflation front, the expected inflation level in 12 months time was unchanged at 3.3%. The rate of decline in inflation expectations has slowed in recent months. There is now a reasonable wedge between this metric and headline y/y CPI, see the chart below.
- Expected wages were steady at 118, although house price expectations rose to 107 from 102.
Fig 2: Consumer Inflation Expectations - Easing Trend Paused in August
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok