Trade war impacts have been keenly felt in the SK economy, but some slightly better news today.

Preliminary April to June (second quarter) economic growth came in at 1.1% q/q

  • against 0.9% the median estimate and -0.4% in Q1

+2.1% y/y (estimate 1.9%, prior 1.7%)

Of course Q2 is behind us and more current indicators are not so encouraging. The BoK cut its benchmark rate last week, for the first time in 3 years, to 1.5% (from 1.75%).