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
Earlier today, South Korean manufacturing and non-manufacturing sentiment edged higher for April. The manufacturing reading firmed to 69 from 66, while the most recent trough was in Feb at 65. For non-manufacturing we are now back at 75, with the Feb trough being at 70. For both indices we are still well below average levels seen in 2022, but the recent moves higher will be welcomed by the authorities.
- These prints come after yesterday's improvement in consumer sentiment to 92.0 (a 9 month high).
- Today's manufacturing sentiment reading tends to align closely with y/y GDP momentum for South Korea, see the first chart below.
- It may be too early to call a definitive turn around though, as manufacturing new orders slipped further to 73 (from 75), while inventory levels also remained high. The export outlook improved, but only modestly, see the second chart below.
- There was more evidence of an improvement in domestically orientated manufacturers.
Fig 1: South Korean Manufacturing Sentiment Versus Y/Y GDP
Source: MNI - Market News/Bloomberg
Fig 2: South Korean Manufacturers Export Expectations Versus Export Growth
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