Korea's growth to slow, but not for too long

Q3 GDP data will be released in Korea this week and are expected to show that the economy has lost some momentum. What’s more, the upswing will probably stay on a slower track in coming quarters. Exports and manufacturing will be held back by prolonged weak growth in the West, while local domestic demand will be subdued by the relatively high level of private sector debt. The upshot is that we expect GDP growth to slow to a sub-trend pace for a while.