South Korea: Still sluggish GDP – ANZ

Analysts at ANZ note that South Korea’s preliminary Q3 GDP came in at 0.4% QoQ s.a. and 2.0% YoY, in line with their expectations.

Key Quotes

“Government spending remained a key contributor to growth, while investment was the main source of weakness.”

“Looking ahead, while challenging external conditions will continue to cloud South Korea’s growth outlook, the government’s expansionary fiscal policy should provide some much-needed support to the economy.”