South Korea’s growth outlook remains positive for 2014

SEOUL – The South Korean economy in the fourth quarter of 2013 expanded around the same pace as it did in Q3, primarily underpinned by strong private consumption and investment. GDP grew 3.9% y/y (0.9% q/q sa) in Q4, with investment contributing around 1.8% to the growth rate, followed by private consumption contributing 1.1%.

For the full year, growth momentum unequivocally improved despite lingering export competitiveness concerns triggered by a strong won. ANZ Bank economists believe  growth momentum can be sustained over 2014 based on improving economic fundamentals. www.live.anz.com (ATI).