(Repeats ahead of release of data on Tuesday)
WHAT: estimate of GDP growth for fourth quarter of 2009
WHEN: 2300 GMT on Jan. 25
REUTERS FORECASTS:
- Median +0.5 pct quarter-on-quarter vs +3.2 in Q3. Forecast range of 11 economists was 0.0 pct and +1.0 pct.
- Median +6.2 pct year-on-year versus +0.9 in Q3. Forecast range of 12 economists was +5.5 pct and +7.1 pct.
FACTORS TO WATCH:
- The quarterly GDP growth rate seen slowing down in the fourth quarter of 2009 after posting a 7-1/2-year high of 3.2 percent in the third quarter amid waning stimuli.
- The year-on-year GDP growth rate seen recording a 7-year high for the fourth quarter of 2009 on low base effect after suffering a sharp fall for three consecutive quarters since the outbreak of the global financial crisis.
- How much the domestic and global demand have contributed to the fourth-quarter performance will provide a clear clue to the sustainability and strength of the economic growth ahead, considering the recent recovery was largely a result of inventory adjustments and government spending.
- The fourth-quarter GDP figure will likely add a spin to the growing political tussle between an inflation-mindful central bank and a growth-fixed government over the pace of rate tightening campaign.
MARKET IMPACT:
- Stronger-than-expected GDP data will revive investor expectations that the Bank of Korea will raise interest rates during the first quarter, which has been pushed lower by strong government opposition to an early rate rise.
To track South Korean economic data, click on.
(Reporting by Seo Eun-kyung and Cheon Jong-woo; Editing by Jeremy Laurence)
((eunkyung.seo@thomsonreuters.com; +82 2 3704 5648; Reuters Messaging;eunkyung.seo.reuters.com@reuters.net)) Keywords: KOREA ECONOMY/GDP (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
WHAT: estimate of GDP growth for fourth quarter of 2009
WHEN: 2300 GMT on Jan. 25
REUTERS FORECASTS:
- Median +0.5 pct quarter-on-quarter vs +3.2 in Q3. Forecast range of 11 economists was 0.0 pct and +1.0 pct.
- Median +6.2 pct year-on-year versus +0.9 in Q3. Forecast range of 12 economists was +5.5 pct and +7.1 pct.
FACTORS TO WATCH:
- The quarterly GDP growth rate seen slowing down in the fourth quarter of 2009 after posting a 7-1/2-year high of 3.2 percent in the third quarter amid waning stimuli.
- The year-on-year GDP growth rate seen recording a 7-year high for the fourth quarter of 2009 on low base effect after suffering a sharp fall for three consecutive quarters since the outbreak of the global financial crisis.
- How much the domestic and global demand have contributed to the fourth-quarter performance will provide a clear clue to the sustainability and strength of the economic growth ahead, considering the recent recovery was largely a result of inventory adjustments and government spending.
- The fourth-quarter GDP figure will likely add a spin to the growing political tussle between an inflation-mindful central bank and a growth-fixed government over the pace of rate tightening campaign.
MARKET IMPACT:
- Stronger-than-expected GDP data will revive investor expectations that the Bank of Korea will raise interest rates during the first quarter, which has been pushed lower by strong government opposition to an early rate rise.
To track South Korean economic data, click on.
(Reporting by Seo Eun-kyung and Cheon Jong-woo; Editing by Jeremy Laurence)
((eunkyung.seo@thomsonreuters.com; +82 2 3704 5648; Reuters Messaging;eunkyung.seo.reuters.com@reuters.net)) Keywords: KOREA ECONOMY/GDP (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.