South Korea's gross domestic product contracted a seasonally adjusted 1.4 percent on quarter in the first quarter of 2020, the Bank of Korea said in Thursday's advance estimate.
That follows the 1.3 percent increase in the previous three months.
Real gross domestic income (GDI) decreased by 0.6 percent on quarter compared to the previous quarter.
On the expenditure side, private consumption fell 6.4 percent on quarter as expenditures on goods (e.g. motor vehicles, clothing) and services (e.g. accommodation and food, recreation and culture) both decreased.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.