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Economic Bulletin (Vol.32 No.4, April 2010)

Economic Bulletin (Vol.32 No.4, April 2010)

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Economic Bulletin [Vol.32 No.4] Apr. 2010
Economic Bulletin [Vol.32 No.4] Apr. 2010

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Published by: Republic of Korea (Korea.net) on Apr 23, 2010
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(Seasonally adjusted)3

2007

2008

20091

1. Preliminary 2. National accounts 3. Percentage change from previous period
Source: The Bank of Korea

Annual

5.1

-

Annual

1.3

-

Q3

1.8

0.1

Q4

-3.6

-4.5

Annual

0.2

-

Q1

-4.4

0.3

Q2

-1.0

3.3

Q3

0.7

1.7

Q4

5.8

0.4

Economic Bulletin 9

Consumer goods sales

Source: Statistics Korea (industrial activity trend)

Private consumption

Source: The Bank of Korea (national accounts)

2-1

2-2

2-3Consumer goods sales by type

Source: Statistics Korea (industrial activity trend)

10April 2010

Consumer goods sales in March, while increasing year-on-year, is projected to slow down
from a month earlier, given low estimates of advanced indicators such as retailers’ sales,
bad weather conditions and a high base effect from the previous month.

Domestic credit card spending was up 19.1 percent year-on-year, slightly decelerating from
the previous month.

Sales at department stores and large discounters fell sharply due to a drop in bargain sale
days.

Domestic sales of Korean automobiles remained brisk, despite the expiration of the tax
break for new car purchases at the end of 2009, while gasoline sales continued to rise for a
second consecutive month in March.

Despite temporary seasonal adjustment, private consumption is expected to continue to
increase, backed by a recently improving employment trend, stabilizing consumer prices and
financial markets, and growing consumer sentiment.

Value of credit card use(y-o-y, %)

9.4 (Oct 2009) 18.3 (Nov) 20.0 (Dec) 20.2 (Jan 2010) 21.2 (Feb) 19.1 (Mar)

Department store sales(y-o-y, %)

11.4 (Oct 2009) 6.4 (Nov) 12.5 (Dec) 4.8 (Jan 2010) 15.2 (Feb) 4.1 (Mar)

Discount store sales(y-o-y, %)

4.5 (Oct 2009) -2.8 (Nov) 3.9 (Dec) -13.4 (Jan 2010) 30.8 (Feb) 1.1 (Mar)

Domestic sales of Korean automobiles(y-o-y, %)

23.8 (Oct 2009) 83.6 (Nov) 79.9 (Dec) 61.7 (Jan 2010) 21.3 (Feb) 29.6 (Mar)

Domestic sales of gasoline(y-o-y, %)

20.7 (Oct 2009) -3.0 (Nov) -4.5 (Dec) -0.6 (Jan 2010) 8.3 (Feb) 6.9 (Mar)

Source:Ministry of Knowledge Economy
The Credit Finance Association
Korea Automobile Manufacturers Association
Korea National Oil Corporation
Ministry of Strategy and Finance (for February data)

Number of workers hired(y-o-y, ten thousand)

1.0 (Oct 2009) -1.0 (Nov) -1.6 (Dec) 0.5 (Jan 2010) 12.5 (Feb)

Consumer prices(y-o-y, %)

2.4 (Nov 2009) 2.8 (Dec) 3.1 (Jan 2010) 2.7 (Feb) 2.3 (Mar)

KOSPI(month-end)

1,556 (Nov 2009) 1,683 (Dec) 1,602 (Jan 2010) 1,595 (Feb) 1,693 (Mar)

Won/dollar exchange rate(month-end)

1,167 (Nov 2009) 1,168 (Dec) 1,157 (Jan 2010) 1,158 (Feb) 1,131 (Mar)

Consumer Sentiment Index(CSI, base=100)

117 (Oct 2009) 113 (Nov) 113 (Dec) 113 (Jan 2010) 111 (Feb) 110 (Mar)

Economic Bulletin 11

Department store and discount store sales(current value)

Source: Ministry of Knowledge Economy (monthly retail sales)

2-4

2-5

2-6Consumer sentiment index

Source: The Bank of Korea

Domestic automobile sales

Source: Korea Automobile Manufacturers Association (monthly automobile industry trend)

12April 2010

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