South Korea’s economy sluggish as trade war weigh on investments
South Korea’s economy grew at a slower pace in the third quarter, making it the smallest expansion since the global financial crisis as trade uncertainties weigh on investment.
Gross domestic product increased 0.4% from the previous quarter, the Bank of Korea said in a statement, compared with an estimate by economists of 0.5%. From a year earlier, the economy expanded 2% according to a Bloomberg survey.
While exports rose in the quarter, the extended run of export weakness and doubts about the strength of overall growth are weighing on investment. Concerns over weakening investment provide another reason for its government and central bank to continue bolstering support for their economy.