South Korea economy likely returned to growth in Q3: Reuters poll [Yahoo! Finance]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Yahoo! Finance
quarter after a mild contraction in the prior quarter thanks to an export-led expansion that offset higher borrowing costs squeezing domestic demand, a Reuters poll found. After an unexpected 0.2% contraction in the April-June quarter, Asia's fourth-largest economy was projected to have grown a seasonally adjusted 0.5% in the third quarter, according to a median forecast from 23 economists. On an annual basis, the economy expanded 2.0% last quarter, according to the median forecast of 26 economists polled Oct. 15-21, down from 2.3% in the previous quarter. "We expect...Q3 GDP data to show lackluster growth. While exports remained robust, sluggish domestic demand, as reflected by various high-frequency indicators, including retail sales and construction, was a drag," said Khoon Goh, head of Asia research at ANZ. South Korea's monthly exports have grown by almost 10% this year on average up to September, largely driven by semiconductor demand from the United States, helping the
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