South Korea's gross domestic product contracted a seasonally adjusted 1.3 percent on quarter in the first three months of 2020, the Bank of Korea said in Tuesday's preliminary reading.
That's an upward revision from last month's advance estimate that suggested a decline of 1.4 percent on quarter following the 1.3 percent quarterly increase in the three months prior.
On a yearly basis, GDP was revised up to 1.4 percent from last month's figure of 1.3 percent following the 2.3 percent increase in the previous three months.
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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.