INCHON, SOUTH KOREA – MAY 22: Shoppers browse merchandise at a Wal-Mart store on May 22, 2006 in Incheon, South Korea.
Chun Seong Joon | Getty Images News | Getty Images
South Korea’s economic growth slowed in the final quarter of last year amid weaker domestic demand as fiscal stimulus wore off.
The economy expanded by 1.5% from a year earlier in the October-December period, missing official preliminary estimates of 1.9% growth expected by economists. Compared to it 1.8% growth last quarter as the economy expanded at its fastest pace in more than a year.
Quarterly, gross domestic product shrank 0.3%, slowing sharply from 1.3% growth in the third quarter of last year and missing economists’ expectations for a 0.1% rate.
South Korean President Lee Jae-myung and his American counterpart Donald Trump held talks trade agreement In November, the US shipbuilding sector included $150 billion in Korean investment and an additional $200 billion in investment pledges.
Instead, the Trump administration agreed to reduce tariffs on South Korean cars and auto parts from 25% to 15%.
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