Korea avoided the need for a full lockdown and the GDP figures due on Tuesday should show that economic activity held up relatively well last quarter as a result. We have pencilled in a contraction of “only” 3.5% y/y.
In case you missed it, earlier this week we published our Q3 Outlook which contains updated forecasts for the region. The GDP forecasts for this year are generally more downbeat than the consensus, with the biggest differences in Thailand, the Philippines and India.
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