Growth Rate Downgraded Amid Tariff Storms [3-Minute Brief]

[At a Glance]
① AMRO forecasts Korea's economic growth at 1.6% this year
② Saemaeul Geumgo posts largest deficit since founding
③ 'K-eggs' to appear more often on American tables

MARKET INDEX

○ Mutual tariffs one week away... Focus on PCE and PMI

○ Consumer indicators from University of Michigan and CB also coming in succession... Gauge of tariff impact

○ This week's New York stock market likely to be influenced by Trump's 'words'

TOP 3 NEWS

■ AMRO also sharply lowers South Korea's economic growth forecast to 1.6% this year

○ AMRO annual consultation report published
○ Concerns over US tariff hikes... first mention of martial law situation
○ Lowered by 0.3 percentage points again after 3 months

■ Saemaeul Geumgo records largest-ever loss... 1.7382 trillion KRW last year

○ "Significant increase in bad debt provisions"
○ Both delinquency rate and non-performing loan ratio rose
○ Ministry of the Interior and Safety "Actively working on soundness management"

■ US sends SOS to Korean eggs... US Secretary of Agriculture "Import more Korean eggs"

○ Soaring egg prices blamed for US inflation
○ Relatively affordable Korean eggs as an alternative
○ Recently, 20 tons from Gyelim Farm in Chungnam shipped to the US

Graphic News: "If construction companies collapse, savings banks and capital companies are also at risk"

○ As construction industry worsens, defaults increase among savings banks and capital companies that lent money

○ Financial authorities recommend management improvement to Sangsangin Savings Bank

○ The worse the construction industry gets, the greater the financial companies' defaults are likely to be

the Chart: Producer prices stall after 4 months... Will consumer prices remain stable?

○ Bank of Korea 'February 2025 Producer Price Index (provisional)'

○ Rose for 3 consecutive months, then 'flat (0.0%)' last month

○ Impact from declines in smartphones, flash memory, etc.

Today's Key Schedule

○ Domestic

KOSDAQ Doozone listing, final public offering price 9,000 KRW

○ Overseas

09:30 Japan Services Purchasing Managers Index (March)

14:00 Singapore Consumer Price Index (YoY) (February)

18:00 Europe Services Purchasing Managers Index (March)

22:45 US Services Purchasing Managers Index (March)

◇ Lunch & Commute Weather

○ Lowest temperature 11℃(▲6℃) ｜ Highest temperature: 19℃(▲2℃)
○ Precipitation probability morning 40%｜afternoon 20%
○ Fine dust morning bad｜afternoon moderate

OK in 3 minutes, essential time-efficient economic news. Published daily at 8 AM.