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South Korean GDP growth hits expectations

South Koreas GDP grew at the expected 0.1% in the first quarter compared with the previous quarter, according to the Bank of Korea.

The growth matches the estimate made by the central bank on April 24. Todays estimates however are based on more complete source data from the industrial production index and the service industry activity index.

On the production side, South Koreas manufacturing sector fell by 3.4%. Meanwhile, the construction sector recorded a growth rate of 5.9%, which the central bank says was attributable to an increase in civil engineering.

In terms of expenditure, construction investment increased 5.2% and private consumption rose 0.4%. Facilities investment meanwhile fell 11.2% owing to a contraction in machinery and transport equipment.

Exports of goods fell 3.4% while imports decreased 6.2%.


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Since our last contribution to this column at the beginning of March titled, Markets can go up as well as down, risk assets around the globe have soared. At the time, we commented that if reflationary policies undertaken by government authorities are seen as taking hold, equity markets and other risky assets would likely enjoy an explosive rally. The flip-side, of course, was that safe-haven assets like government bonds would get crushed.

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Income protection sales increased by 13.5 per cent in 2008, a report by Swiss Re has revealed.In its annual term and health watch report on the UK protection market, Swiss Re found the number of IP policies sold last year increased by 13.5 per cent to 126,815 from 111,780 in 2007. But polices sold by […]

The middle ground

Ecclesiastical is among the more unique investment houses out there, with a strong charity focus and a background in insuring churches.


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