English | دری

South Korea Economy Slowing Down

in International Business

South Korea Economy Slowing Down

Asia’s fourth-largest economy is experiencing an economic slowdown with investment dipping and its exports declining due to falling demand in the Eurozone.

Gross domestic product (GDP) expanded by 0.4% in the April to June period. In the previous three months it grew 0.9%.

The economy grew 2.4% from the same period the previous year.

The central bank is under pressure to further ease policies by lowering the interest rate.

The Bank of Korea unexpectedly cut its key interest rate to 3% from 3.25% in the first reduction for three years.

“If growth rate is this low, it shows the conditions are quite serious,” said Yum Sang-Hoon of SK Securities.

SK’s domestic consumption does not seem very convincing to the policy makers to offset the decline in foreign sales.

According to the analysts, South Korea’s economy will take a longer time to recover.


Tags assigned to this article:
South Korea Economy Slowing Down

Related Articles

Venezuela undertakes currency devaluation

Venezuela undervalued its currency by re-pegging the bolivar to a value of 6.3 per USD from it sprevious official exchange

Google’s early publication of shares spooked investors

Google’s disappointing third-quarter earnings were accidentally published several hours earlier than planned yesterday, sparking a panic sell-off of the internet

EU agrees strict new bank rules

The European Union has agreed strict new rules for banks, intended to make them safer and eliminate the need for

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.