Korea's GDP accelerated to 1.5%

Thanks to strong inventories and consumption.

According to UBS, Korea's 4Q GDP accelerated to 1.5%q/q SAAR. Most of the acceleration came from inventories and a pickup in consumption in response to temporary tax incentives that were to expire by year end. UBS expects GDP to improve modestly to 2.8% versus the government’s advanced estimate of 2.0% for 2012.

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