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Analysts at Australia and New Zealand Banking Group (ANZ) offer their quick reaction to the South Korean Q4 GDP release.

Key quotes

“South Korea’s preliminary Q4 GDP data signal that the economy losing momentum amid a third wave of infections and the associated tightening in restrictions.”

“The pullback was led by private consumption growth, though a continued export recovery helped offset some of the weakness.”

“Looking ahead, South Korea’s economy is in a good position to regain a firmer footing over the course of this year, helped by a favourable export structure and a vaccination campaign that is targeting herd immunity by November.”