Korea – TOT-led growth continues

The big macro dynamic is the sharp rise in chip prices that is boosting the terms of trade, and thereby lifting nominal GDP and national income. Today's July export and import price data show that these trends remain in place. Rates have priced at least the first stage of this. The KRW still hasn't.

Paul Cavey

Aug 14, 2026 • 2 min read

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China – consumption guide

China's economic data are widely cited – but aren't well understood. To try to tackle that, I have been making some data guides. This first one tackles consumption.

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East Asia Today

The main data release today was PPI, import and export prices in Japan, which show inflationary pressures easing from June, but remaining high. As would be expected given the big rise in nominal GDP, tax revenue in Korea is growing strongly.

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East Asia Today

The Japan Reuters Tankan shows the recovery in manufacturing sentiment that was interrupted by the Iran War is back on track. In Korea, unemployment remains below 3%, and that will be a truer measure of labour market tightness if some of the structural supply side shifts continue to lose momentum.