Korea GDP Revision and US CPI in Focus as Global Markets Eye Rate Decisions

The Bank of Korea is set to release revised second-quarter real gross domestic product growth on August 8th, which will be closely watched by investors. The advance estimate published in late July came in at 0.6% from the previous quarter, far above the central bank's 0.2% forecast. With semiconductor exports still strong, attention turns to whether the revision will shift that figure.

Nominal second-quarter GDP growth will also be published on August 8th. The nominal growth expanded 10.5% year-on-year in the first quarter, the fastest pace in 50 years. BOK Governor Shin Hyun-song said at a recent press briefing that second-quarter nominal GDP growth was expected to come in considerably high.

Statistics Korea releases August employment data on August 9th. The number of employed young adults aged 15 to 29 fell by 191,000 in July from a year earlier, a 45th straight monthly decline. The youth unemployment rate posted its steepest rise in five years and six months.

The BOK's monetary policy report, due on August 10th, is also drawing attention. Investors will look at how the bank assesses household debt and single-stock leveraged exchange-traded funds in terms of growth, prices and financial stability.