[Economic Outlook] Bank of Korea's Financial and Price Assessment This Week... June Consumer Sentiment?

Customs Service Export Performance from 1st to 20th Announced on 22nd
Bank of Korea Financial and Inflation Assessment

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] On the 25th, Lee Ju-yeol, Governor of the Bank of Korea, will personally explain the operation status of the price stability target. Also, the provisional export performance until the 20th of this month will be released.

On the 22nd, the Korea Customs Service will announce export performance (based on customs clearance) from June 1 to 20. According to the 'Export and Import Status from June 1 to 10' announced by the Customs Service on the 11th, exports during this period amounted to 12.281 billion dollars, an increase of 20.2% compared to the same period last year (10.216 billion dollars). This is due to the number of working days being 8 during this period, two days more than last year. The average daily export amount, excluding the effect of working days, was 1.54 billion dollars, which is about a 10% decrease compared to the same period last year.

On the 23rd, Statistics Korea will release employment trends for dual-income and single-person households. As an additional survey to employment statistics, it will provide insight into the employment situation of dual-income and single-person households last year.

On the 24th, the Bank of Korea will disclose the Financial Stability Report submitted to the National Assembly. It contains the Bank of Korea's analysis of the overall financial situation in the first half of the year. Attention is focused on how the prolonged COVID-19 pandemic may have affected household credit and the asset market.

On the 26th, the 'June 2020 Consumer Sentiment' will be announced. The Consumer Confidence Index (CCSI) for May was recorded at 77.6, up 6.8 points from April. The CCSI is an index standardized from six major indices of the Consumer Sentiment Index (CSI), which is based on household surveys. In April, the index fell to 70.8 but rebounded in May due to the government's disaster relief fund effect. There is interest in whether the improvement in consumer sentiment will continue in June.