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10 months ago|10 views

S. Korea's Q2 economic growth looks bright among other countries

Arirang News
Arirang News
한국 2분기 경제 선방…주요국 성장률 중 낙폭 작은 편

Some of the world's biggest economies contracted in the second quarter by record-breaking amounts, but South Korea's did relatively well.
Bloomberg reports that Korea's GDP in the second quarter shrank on year by only 2-point-9 percent.
By contrast, some countries in Europe shrank by double digits Spain minus 22-point-one and France minus 19 percent.
According to figures from the OECD, South Korea's economy contracted by three-point-three percent,... which is the second highest figure among 14 major economies like the U.S., China and Germany.
It's believed that one reason is that Korea didn't go on lockdown, which prevented a bigger decline in consumption.
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