South Korea's economy likely grew faster in the December quarter than in th...
SEOUL - South Korea’s economy likely grew faster in the December quarter than in the preceding period, helped by improved domestic consumption after fiscal and monetary stimulus, a Reuters poll showed on Monday.
“The high-frequency indicators including retail and property sales, consumer confidence and services output showed notable improvement in the fourth quarter, helped by the government’s and the central bank’s fiscal and monetary stimulus measures,” said Ma Tieying, economist at DBS. “While facility and construction investments and goods exports likely continued to decline on-year, unstable global trade conditions and local property regulations may have also dented exports and investment growth,” said Ahn So-eun, economist at IBK Securities.For the whole of 2019, 40 analysts predicted Asia’s fourth-largest economy would grow a median 1.9%, much slower than 2.7% growth in 2018.
“The big picture is that the economy is gradually gaining a firmer footing, and a modest recovery in the export sector and expansionary fiscal policy should help support economic activity in the coming quarters,” said Krystal Tan, economist at ANZ Research.
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