Bloomberg Survey Puts S. Korea Second Quarter Growth at 2.7%

Write : 2015-07-21 09:29:18 Update : 2015-07-21 09:32:08

Bloomberg Survey Puts S. Korea Second Quarter Growth at 2.7%

Global investment banks have estimated that South Korea's growth rate was below three percent in the second quarter.
Some also expect South Korea's exports to climb at the slowest rate this year since the global financial crisis in 2009.
According to Bloomberg on Tuesday, 14 foreign investment banks it surveyed expect the nation's economy to have grown two-point-seven percent on year in the second quarter on average.
Barclays had the highest forecast at three-point-one percent while Nomura Group and IHS Economics had the lowest at two-point-four percent.
The banks attributed the sluggish growth to an unexpected fall in consumption and tourism due to the Middle East Respiratory Syndrome (MERS) outbreak and the weak yen which hurt exports. 

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