South Korean economic growth likely to have remained stable at 2.8 pct in Q1 2018

The South Korean economic growth data for the first quarter is set to release this week. According to a DBS Bank research report, the GDP growth is likely to have remained stable at 2.8 percent year-on-year in the first quarter.

Meanwhile, on a sequential basis, economic growth is expected to have rebounded to 3.6 percent from -0.8 percent in the prior quarter. Demand for exports is expected to have stayed buoyant in the March quarter. In the meantime, minimum wage hikes, government spending on job creation, and a resilient property market have also aided in bolstering domestic demand.

“We are comfortable with our annual GDP growth forecast of 2.9 percent but see the risk of a slowdown in 2Q due to the rise in trade protectionism and the dissipation of fiscal stimulus effect”, added DBS Bank.

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