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rdf:type	schema:NewsArticle
schema:articleBody	Asia's fourth-largest economy returned to quarter-on-quarter growth in the July to September period, South Korea's central Bank of Korea announced Tuesday. The South largely overcame an early coronavirus outbreak through an intensive track-and-test model, and everyday life in the country has returned largely to normal. It is now widely expected to see one of the least bad 2020 economic performances among the OECD group of developed economies. Gross domestic product expanded 1.9 percent in the third quarter over the previous three months, the BOK said, although the economy still shrank 1.3 percent on-year. The quarter-on-quarter figure represented a significant improvement on the 3.2 percent contraction in April-June and was the best since the first three months of 2010. It was driven by a better-than-expected exports performance as major trade partners began to emerge from the depths of the coronavirus lockdowns, officials said. "This speaks to the resilience of a manufacturing powerhouse," KB Securities economist Oh Jae-young told Bloomberg News. "South Korea's manufacturing has remained unscathed from the pandemic, and now as developed economies themselves restart production, South Korea's getting a boost." But Park Yang-su, head of the BOK's economic statistics department, warned that the trade-driven economy's recovery may suffer as a result of new waves of the pandemic in key markets. "The rapid spread of coronavirus in Europe and the United States acts as a risk," he said. Domestically, the construction sector had not rebounded as quickly as exports owing to heavy rain and severe flooding over the summer, he added. slb/dan
schema:headline	S. Korea economy bounces back on pick-up in exports
schema:mentions	Kilobyte Bloomberg L.P. Asia South Korea OECD Gross domestic product European Union Pandemic United States Severe acute respiratory syndrome coronavirus 2 Key Markets Economy
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-10-27 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	71 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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