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South Korean GDP grew 3.1% year on year in the fourth quarter of 2018, above the 2.7% consensus. Quarter on quarter growth was 1.0%, driven mainly by government spending and stockbuilding, while net exports were a drag.
ING raised its 2019 growth forecast to 2.2% from 1.9%.
Stronger Korean growth supports feed demand from a large importer of grains and meal, but the effect on prices is small. The article is a macro data point with no direct commodity link.
think.ing.comJan 22, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
