CANADA PM CARNEY CANCELS PROPOSED CAPITAL GAINS TAX INCREASE

MNI BRIEF: FAIT Didn't Affect Fed's Covid Decisions - Williams

MNI: Fed Waller Prefers Faster QT Path, Wants Contingency Plan

MNI BRIEF: PBOC To Enhance Easing On External Uncertainties

MNI China Daily Summary: Friday, March 21

MNI China Press Digest March 21: Land Sales, Services, PBOC

EZ/UK T-Bill Calendar: Germany, France Auction On Monday

EZ/UK Bond Supply Calendar: EU-Bond Auction on Monday

MNI: BAKER HUGHES US RIG COUNT 593; OIL RIGS 486; GAS RIGS 102

GERMANY: Handelsblatt Report on Lingering Uncertainties Ahead of Bundestag

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

SOUTH KOREA: Revised GDP in Line with Expectations for Fourth Quarter. 

SOUTH KOREA
EM BulletBulletSouth KoreaAPACEmerging Market News
  • After yesterday’s slew of weak data, today’s revised GDP release will come as somewhat of a relief to authorities.
  • The fourth quarter provisional GDP print of +1.2% was in line with expectations with manufacturing +2.2% y/y, electricity, gas and water supply -1% y/y, construction -6.2% y/y and services +1.5% y/y
  • The fourth quarter q/q result of +0.1% was in line with estimates with manufacturing +0.2% q/q, electricity, gas and water supply -5.8% q/q, construction -4.1% q/q and services +0.4% q/q.
  • The full year GDP Annual release of +2.0% y/y for 2024, missed the BOK’s full year forecast of +2.2%.
  • GDP growth forecast for 2025 has been significantly revised downward from 1.9% to 1.5%.
  • The BOK cut rates at its last meeting indicating that they will ease further, but are likely to remain cautious in their approach.
  • Given GDP was in line with expectations and with the Won remains one of the worst performers in the region since the last BOK, today’s release possibly is sufficient to provide the BOK time to pause at its next meeting  on April 17. 
177 words

To read the full story

Close

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.
  • After yesterday’s slew of weak data, today’s revised GDP release will come as somewhat of a relief to authorities.
  • The fourth quarter provisional GDP print of +1.2% was in line with expectations with manufacturing +2.2% y/y, electricity, gas and water supply -1% y/y, construction -6.2% y/y and services +1.5% y/y
  • The fourth quarter q/q result of +0.1% was in line with estimates with manufacturing +0.2% q/q, electricity, gas and water supply -5.8% q/q, construction -4.1% q/q and services +0.4% q/q.
  • The full year GDP Annual release of +2.0% y/y for 2024, missed the BOK’s full year forecast of +2.2%.
  • GDP growth forecast for 2025 has been significantly revised downward from 1.9% to 1.5%.
  • The BOK cut rates at its last meeting indicating that they will ease further, but are likely to remain cautious in their approach.
  • Given GDP was in line with expectations and with the Won remains one of the worst performers in the region since the last BOK, today’s release possibly is sufficient to provide the BOK time to pause at its next meeting  on April 17.