South Korea avoided a technical recession as its economy expanded by 0.6% from the previous quarter, beating expectations, according to advance estimates.
This was higher than the 0.5% expected by economists polled by Reuters, and a reversal from the 0.2% contraction seen in the first quarter.
On a year-over-year basis, the country’s GDP rose 0.5%, up from 0% in the first quarter and higher than a 0.4% expansion expected by the Reuters poll.
