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Outlook and Reforms for the Korean Economy in 2006
Author: Kenneth Kang
Region: Asia
Location: Korea, South
Published May 25, 2011
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After two years of sluggish growth, the Korean economy is now recovering. Economic activity began to revive in the early part of 2005 and accelerated throughout the year, reaching an annualized rate of nearly 7.5 percent in the third quarter, its fastest pace since 2003. What is encouraging is that the recovery is being led by household spending. After remaining dormant for almost two years, private consumption has now expanded for six straight quarters.

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