Revised South Korean GDP data raises prospects of interest rate cut

South Korea’s economy grew just 0.3 percent in the April-June period from the prior quarter, revised data showed on Thursday, undercutting earlier estimates and reinforcing views for an interest rate cut next week.

The seasonally adjusted reading was below a 0.4 per cent rise estimated by the Bank of Korea in late July and a steep decline in the rate of increase from 0.9 per cent grow recorded during the January-March quarter.

via Business feed http://www.scmp.com/business/economy/article/1030602/revised-south-korean-gdp-data-raises-prospects-interest-rate-cut