03.06.201919:15:00UTC+00South Korea GDP Sinks 0.4% In Q1

South Korea's gross domestic product contracted 0.4 percent on quarter in the first three months of 2019, the Bank of Korea said in Tuesday's preliminary reading.

That's down from the 0.3 percent decline suggested in last month's advance estimate and it follows the 0.9 percent increase in the fourth quarter of 2018.

On a yearly basis, GDP climbed 1.7 percent - slowing from the 2.9 percent jump in the three months prior.

Real gross national income (real GNI) decreased by 0.3 percent in the first quarter of 2019 compared to the previous quarter.