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
South Korean manufacturing and non-manufacturing sentiment continued to improve in terms of the latest BoK survey results. The headline manufacturing result edging up to 73 for the June reading, from 72 prior. This is the firmest read since November last year. We saw a similar improvement in the seasonally adjusted result. On the non-manufacturing it was a similar story, the headline rising to 78 from 76.
- The first chart below overlays the manufacturing headline result against y/y GDP. The series is suggesting we shouldn't see too much more downside momentum in y/y GDP. Still, the sub-components showed mixed results, with sales, production and orders, all ticking down from May readings.
- The detail on the non-manufacturing side were generally more positive, with improvement in the sub-components.
Fig 1: South Korea Manufacturing Sentiment & Y/Y GDP
Source: MNI - Market News/Bloomberg/BoK
- One positive on the manufacturing side, was the export outlook, rising to 68 from 64 prior. Again, this is suggesting a less adverse export growth outlook, albeit coming from low levels, see the second chart below.
Fig 2: South Korean Manufacturers Export Outlook & Export Growth
Source: MNI - Market News/Bloomberg/BoK
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