Emerging Markets Analysis By Lloyds TSB

Despite weaker industrial activity in the quarter, the South Korean economy is forecast to have grown by 0.6%q/q (4.9%y/y) in Q4, compared with 0.7%q/q (4.4%y/y) in Q3. Despite weaker industrial activity in the quarter, the South Korean economy is forecast to have grown by 0.6%q/q (4.9%y/y) in Q4, compared with 0.7%q/q (4.4%y/y) in Q3. After leading the economic recovery, a pause in global trade growth in early Q4 and an unwinding of inventories, are expected to reduce the industrial sector’s contribution to economic growth, possibly subtracting from GDP. Nonetheless, economic growth is forecast to ease only modestly reflecting strong growth in private sector demand.