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S.Korea's economy barely grows in Q4 as political crisis jolts 2025 outlook

SEOUL (Reuters) -South Korea's economy barely grew in the fourth quarter of 2024, as the country's worst political crisis in decades hurts already weakened domestic demand and threatens to further sap growth in a year of rising external risks under a second Trump presidency. In December, consumer and business sentiment dampened amid political chaos, after President Yoon Suk Yeol was impeached and suspended from duties over his short-lived bid to impose martial law, followed by the impeachment of Prime Minister Han Duck-soo. That impact saw gross domestic product (GDP) expand just 0.1% from a quarter earlier on a seasonally adjusted basis, the Bank of Korea's advanced estimates showed on Thursday.

South Korea’s Economy Struggles to Grow Amid Political Crisis

(Bloomberg) -- South Korea’s economy continued to sputter last quarter after President Yoon Suk Yeol’s short-lived declaration of martial law battered consumer confidence just as businesses and policymakers were already fretting about the possibility of Donald Trump imposing trade tariffs.Most Read from BloombergHow Sanctuary Cities Are Preparing for Another Showdown With TrumpTexas HOA Charged With Discrimination for Banning Section 8 RentersDonations to LA Fire Victims Rise Past $200 Million M

Nearly Half of Britons Expect Economy to Worsen, BRC Survey Says

(Bloomberg) -- Confidence in the UK economy sunk lower at the start of the year, according to a survey of consumer sentiment by the British Retail Consortium.Most Read from BloombergHow Sanctuary Cities Are Preparing for Another Showdown With TrumpTexas HOA Charged With Discrimination for Banning Section 8 RentersDonations to LA Fire Victims Rise Past $200 Million MarkLA Schools Wrecked by Fires Plead on GoFundMe for Help to ReopenNY’s Hochul Calls for Law Banning Cell Phone Use in SchoolsSome 4