South Korea Q2 GDP: Current momentum won’t last – ANZ

Dhwani Mehta FXStreet

Analysts at Australia and New Zealand (ANZ) banking group offer their afterthoughts on the South Korean Q2 Preliminary GDP release.

Key quotes

“South Korea’s preliminary Q2 GDP showed a pick-up in economic growth, as a rebound in private consumption and government spending offset the decline in exports and private investment.”

“Looking ahead, weak export prospects, high domestic inflation and rising interest rates all point to intensifying headwinds.”

“But until there are clear signs that inflation is on a sustainable downtrend back towards the Bank of Korea’s 2% target, further rate hikes are on the cards, in our view.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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