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 consumer sentiment dipped in terms of the headline measure for September. We are back to 99.7 from 103.1 in August. We are above earlier lows from 2023, but the run of improvement in the headline index has clearly come to an end. Note tomorrow we get the October reads for manufacturing and services business sentiment from the BOK.
- The first chart below overlays the headline consumer sentiment reading against y/y South Korean GDP growth. It's still pointing to some improvement in y/y momentum, but the rebound is likely to below what we saw in 2021.
- In terms of the detail, most indicators around the domestic economy ticked down, along with employment. Consumer spending plans also slipped. Measures are above earlier 2023 lows though.
Fig 1: South Korea Consumer Sentiment Index & GDP Y/Y
Source: MNI - Market News/Bloomberg/BOK
- On the price side, the expected inflation level held steady for the third straight month at 3.3%. Headline inflation has rebounded back to 3.4% y/y. Note the September CPI data comes out on October the 5th.
- The expected housing price level rose further to 110 from 107. Expected wages ticked down slightly.
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