South Korea Consumer & Retail Q1 2019
Our consumer outlook for South Korea remains bleak as private consumption falls in line with a muted economic growthoutlook. Further threats to consumption come from low employment growth and high youth unemployment while high householdindebtedness remains another risk to watch. Inflation has also been picking up as oil prices rise, prompting the central bank totighten monetary policy. Further reflective of this dim consumer outlook is falling consumer confidence and retail sales which willcontinue its momentum in 2019 as the US-China trade tensions show no signs of resolution.
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