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.

Key Quotes:

“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.”