Mexican Media Brands
South Korea’s Economic Growth Stalls
South Korea's economy grew by a seasonally adjusted 0.4% in last year's fourth quarter compared with 0.9% in the previous quarter and 2.7% in October-December 2013.
#economics
Share
South Korea's economy grew by a seasonally adjusted 0.4% in last year's fourth quarter compared with 0.9% in the previous quarter and 2.7% in October-December 2013. It was the country's smallest gain since 2008.
Analysts blame the slowdown on a decline in exports and spending on infrastructure. Construction investment plunged 9% in October-December, the worst result in 16 years, as shrinking tax revenue prompted government cutbacks.
Economists say the cooling economy may prompt the Bank of Korea to lower its key interest rate for the fourth time in less than two years. The central bank reduced the rate to a record low 2% in October.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.