Recession reports - South Korean economy entering into recession
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Monday, 16 Feb 2009
Global financial services and research firm Goldman Sachs said that Korea's economy has entered a recession.
It added that Korea's macroeconomic environment will deteriorate quickly in the first half of 2009 and its GDP growth will post between -4% and -5%.
In January 2009, Goldman Sachs predicted Korea's GDP to dwindle 1%. It now says that Korea's economy will return to positive territory in the fourth quarter.
(Sourced from Arirang News)
