South Korea economy averts recession thanks to consumer spending boost
SEOUL (Reuters) – South Korea’s economy in the first quarter expanded by 0.3% over the previous three-month period, official advance estimates showed on Tuesday, compared with a median 0.2% rise tipped in a Reuters survey. It follows a 0.4% contraction of Asia’s fourth-largest economy during the final quarter of 2022, which was the first decline in 2-1/2 years. Economists usually define a recession as two consecutive quarters of contraction. A […]