South Korea’s economy and exchange traded fund (ETF) have been surging toward a recovery for the past few months. Smaller-than-expected dips in some areas and improvements in others are delighting analysts.
The momentum that’s been seen in South Korea’s economic recovery have led economists to adjust their numbers. Evan Ramstad for The Wall Street Journal says that many credit the economic stimulus for the recovery. The stimulus focused on new construction, which created jobs and projects.
Some of the numbers include:
- South Korea’s economy rose a seasonally adjusted 2.3% in the second quarter from the first quarter, the fastest in more than five years. The economy still fell 2.5% year-over-year, reports John Letzing for MarketWatch.
- The Bank of Korea stated that the country’s manufacturing sector climbed 8.2% in the second quarter.
- Services grew 1% as a result of growth in “financial intermediation and wholesale and retail trade sectors.”
- An improved trade balance resulted in South Korea’s second-largest ever current-account surplus, totaling $5.43 billion for June, writes In-Soo Nam for The Wall Street Journal.
- iShares MSCI South Korea Index (EWY): up 49.7% year-to-date
For more information on South Korea, visit our South Korea category.
Max Chen contributed to this article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.