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Analysts at ANZ note that South Korea’s preliminary Q3 GDP came in at 0.4% QoQ s.a. and 2.0% YoY, in line with their expectations.

Key Quotes

“Government spending remained a key contributor to growth, while investment was the main source of weakness.”

“Looking ahead, while challenging external conditions will continue to cloud South Korea’s growth outlook, the government’s expansionary fiscal policy should provide some much-needed support to the economy.”