South Korea Flirts With Recession as Analysts Lower Growth Bets
- Economists revise down Q1 growth forecast to 0.1%: survey
- Two negative quarters of growth defines a technical recession
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South Korea’s economy likely skirted close to a recession at the start of the year, according to a Bloomberg survey, as slower global growth stunted exports and renewed currency weakness helped inflate the country’s import bill.
Economists revised down growth expectations for the first quarter from the prior three-month period to just 0.1%, according to the median of 14 responses in a Bloomberg monthly survey.