South Korea: Q1 GDP growth to have eased – Standard Chartered

South Korea will announce preliminary GDP data for Q1-2020 on 22 April, per Standard Chartered Bank. USD/KRW is trading at 1,218.07.

Key quotes

“We expect GDP growth to have slowed to 0.8% y/y from 2.3% in the last quarter.” 

“On a q/q basis, GDP likely fell 1.8%, versus growth of 1.3% in Q4-2019.”

“The government announced a support package of KRW 32tn, which should help limit a steep drop in growth; we are unlikely to see the monetary policy impact on Q1 data due to a lagged effect.”