South Korea GDP: On the path to recovery
Analysts at Australia and New Zealand Banking Group (ANZ) offer their afterthoughts on the South Korean GDP data release that outpaced expectations.
“South Korea’s preliminary Q4 GDP came in at 1.2% q/q sa and 2.2% y/y, beating expectations. Government spending and exports were the key contributors to y/y growth, but the drag from investment also eased.
2019 growth came in at 2.0% (the weakest since the global financial crisis), but is expected to pick up in 2020 against a backdrop of improving exports and strong fiscal support.”