The economy of South Korea is going to grow


South Korea may return to economic growth in Q2. A contraction in the first quarter was surprising and happened mainly due to state spendings. The Republic of Korea is estimated to be adjusted by 1% since April in sequential terms. The median forecast in the survey of 12 experts was estimated from 0% to 1,3%. South Korea’s government delivered a rate cut, while shaving this year’s forecast to 2,2%, and it became the lowest in a decade. Korea now suffers the bigger pressure on its economy due to the trade conflict with Japan. The country limited its exports on key chips and display production materials which became one of the biggest risks to GDP. Korea’s exports declined for the seventh month in a row. For the first 20 days of July it decreased by 13,6% in annual terms. 

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