South Korea's GDP fell by 0.4% in the first quarter


The economy of South Korea in the first quarter of 2019 decreased by 0.4% compared to the fourth quarter. According to the estimates of the South Korean Central Bank, preliminary data of which indicated a reduction in GDP of 0.3%, the quarterly figure was the worst since the fourth quarter of 2008. Compared to the first quarter of 2018, GDP grew by 1.7%, while preliminary data suggested an annual growth of 1.8%. Economists had not expected a revision of the preliminary estimates of the Central Bank. Exports, which accounted for about 40% of GDP, fell by 3.2% over the quarter. In the past quarter, investment in construction also reduced by 0.8%. Investment in capital goods fell 9.1%. At the same time, consumer spending increased by 0.2% and public spending by 0.4%. Production growth was observed in the agricultural and insurance sectors, while the mining and manufacturing sectors recorded a decline.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong