Economics
South Korea’s Recovery Eased Last Quarter Amid Omicron Wave
- Gross domestic product expanded 0.7% from prior three months
- Policy makers aiming to support growth while curbing inflation
Morning commuters on a subway in Seoul, earlier in April.
Photographer: Woohae Cho/BloombergThis article is for subscribers only.
South Korea’s economy decelerated to a more measured pace last quarter following an omicron outbreak and a jump in commodity prices, while remaining on track for a further tightening of monetary policy.
Gross domestic product advanced 0.7% from the final three months of 2021, when it expanded 1.2%, central bank data showed Tuesday. That slightly exceeded economists’ estimates, as did the economy’s 3.1% annual gain.