|09-04-2014, 04:21 PM||#1|
South Korea`s GDP growth slows in Q2
The South Korean economy grew in a slower pace in the quarter ended June, amid concerns about the future of monetary policy and speculations saying the central bank may miss its growth target in 2014.
The South Korean Gross Domestic Product (GDP) expanded 0.5% in the second quarter of 2014, compared with a previous expansion by 0.6%.
On the yearly record, the economy grew 3.5% in Q2, following an expansion by 3.6% in the same period last year.
It is important to mention that the Bank of Korea cuts interest rate by 25 basis points in August, after it cut its growth estimates in 2014 to 3.8% from 4%,
Economists believe that the government may cuts its inflation forecasts, especially with the moderate performance seen in Asia`s fourth largest economy. It may not be the ideal performance for the Korean economy, but it remains acceptable due to the slowdown seen in other Asian economies like China, Japan and Australia.
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