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Gross domestic product shrank 1.4% in the three month through March from the prior quarter, the Bank of Korea said in a statement. Economists forecast a 1.5% contraction.
Key Insights
What Bloomberg’s Economist Says
“Our baseline forecast is for the economy to eke out a 0.3% expansion in 2020, assuming continued fiscal and monetary stimulus and a gradual recovery from 2H. Even so, risks are tilted firmly downward.”
–Justin Jimenez, Bloomberg Economics
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(Adds sector breakdown.)
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