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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
Out a little early, South Korean consumer confidence rose to 92.0 for March, versus 90.2 prior. For the headline index this is the highest levels since June last year. Looking at the detail, aggregate spending plans eased a touch, but remain around levels from late 2022, so the BoK may take some comfort from this in terms of the consumer spending outlook. Domestic spending momentum will be needed to prevent a sharper economic growth slowdown, given external headwinds are weighing on export growth.
- In terms of inflation, expected levels eased down a touch to 3.9 from 4.0 previously. Again, this series is within recent ranges, but is arguing for a further modest softening in y/y momentum from a CPI standpoint, see the chart below. Note that March CPI prints on April 4.
- Expected wages also eased modestly, down to 112 (from 113 last month).
Fig 1: South Korean Consumer Inflation Expectations Versus Headline 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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