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Mixed Korea activity data, climate change

The latest batch of activity data from Korea indicate that the automotive sector was hit hard by shortages last month, but that the service sector is enjoying a recovery. The provisional Q3 GDP figures released earlier this week look likely to be revised up. In any case, there are good reasons to expect the recovery to regain momentum in Q4 and we doubt the soft Q3 GDP data will cause the Bank of Korea to pause its tightening cycle.
Gareth Leather Senior Asia Economist
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