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Financial News: South Korea GDP Sinks 3.3% On Quarter In

South Korea GDP Sinks 3.3% On Quarter In Q2

07/22/2020 - 19:10:00 (RTTNews)

(RTTNews) - South Korea's gross domestic product was down a seasonally adjusted 3.3 percent on quarter in the second quarter of 2020, the Bank of Korea said in Thursday's advance estimate.

That missed forecasts for a decline of 2.3 percent following the 1.3 percent contraction in the previous three months.

Real gross domestic income decreased by 2.0 percent on quarter.

On a yearly basis, GDP was down 2.9 percent - again missing forecasts for a fall of 2.0 percent after rising 1.4 percent in the three months prior.

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