Private Spending News Today

Koreas consumer sentiment snapped an improvement for the third consecutive month in March amid soaring prices of farm goods and a slump in private spending, a central bank poll showed Tuesday.

The government had amped up its capital expenditure for infrastructure at a challenging time when private sector spending had subdued

Korea aims to push up the country’s exports to a record-high $700 billion in 2024, capitalizing on a rebound in outbound shipments that are projected to be a key determinant of this year’s economic growth, the government said, Thursday.

A slow pace of growth of around 2 percent or lower is feared to have become the new normal for the Korean economy, as the spillover effects of China’s economic downturn, high energy prices and soaring interest rates deal a heavier blow to exports and private spending here, according to analysts, Sunday.

USD/MXN moves sideways around 17.1350 during the Asian session on Tuesday, as it attempts to continue the downward trend from the previous day's gains

The Korean economy expanded 0.6 percent in the second quarter compared to the previous three months, as imports dropped at a faster rate than exports, the Bank of Korea (BOK) said Tuesday. It was the fastest quarterly growth since the second quarter of 2022, when the Korean economy grew 0.8 percent.

The Korean economy grew 0.3 percent in the first quarter of 2023 from three months earlier, thanks to an increase in private spending that helped the trade-reliant economy escape recession amid a prolonged slowdown in exports.

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