UOB Group’s Economist Ho Woei Chen reviews the latest GDP figures in South Korea.
Key Takeaways
“South Korea’s advance 1Q23 GDP growth was in line with expectations at 0.8% y/y, 0.3% q/q SA. The sequential rebound in GDP meant that South Korea’s economy avoided a technical recession.”
“The q/q expansion was due to stronger private consumption as well as goods exports that were led by motor vehicle shipments even as electronics had remained in a downcycle. This mitigated declines in facilities investment and services exports in 1Q23.”
“We maintain our cautious outlook for South Korea’s growth in 2023 at 1.3% (2022: 2.6%) with lackluster forecasts of 0.8% y/y in 2Q23 and 1.0% y/y in 3Q23 before a recovery to 2.5% y/y in 4Q23.”
إخلاء المسؤولية: الآراء الواردة هنا تعبر فقط عن رأي الكاتب، ولا تمثل الموقف الرسمي لـ Followme. لا تتحمل Followme مسؤولية دقة أو اكتمال أو موثوقية المعلومات المُقدمة، ولا تتحمل مسؤولية أي إجراءات تُتخذ بناءً على المحتوى، ما لم يُنص على ذلك صراحةً كتابيًا.
اترك رسالتك الآن