[Economic Outlook] KDI Diagnoses Polarization and Forecasts Next Year's Economy

The Bank of Korea Announces April Producer Price Index

Photo by Dongju Yoon doso7@

[Asia Economy Reporter Moon Chaeseok] This week, economic indicators reflecting the level of income polarization in the first quarter will be released. Due to the economic downturn and employment sluggishness caused by the COVID-19 pandemic, the polarization index is likely to worsen. The Bank of Korea will announce the Producer Price Index last month.

The Statistics Korea will release the '2020 First Quarter Household Trends Survey Results' on the 21st. This survey includes ▲average monthly income per household by income quintile ▲non-consumption expenditures such as taxes, interest, and social insurance ▲quarterly equalized disposable income ratios by quintile (income disparity levels), among others.

The Korea Development Institute (KDI) will announce the real Gross Domestic Product (GDP) growth rate forecasts for this year and next year through the 'First Half Economic Outlook' on the 20th.

Previously, KDI projected a 2.3% growth for the Korean economy this year in its second half economic outlook last year. It is expected to lower the growth rate reflecting the impact of COVID-19.

The Bank of Korea will announce the 'April Producer Price Index' on the 21st. Last month's Producer Price Index remained at 102.89 (2015=100), showing the largest month-on-month decline in 5 years and 2 months.

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