Reversing Course, South Korea Leading Index Rises

ByJohn S. McClenahen The leading economic index for South Korea rose 0.6% in April following a 0.5% decline in March and a 1.7% rise in February, the New York-based Conference Board, a business research group, reported on June 17. The leading index for South Korea now stands at 123.3 (1990=100). "While the leading index is still increasing, its growth rate has slowed somewhat so far this year from the rapid pace -- about a 6.5% annual rate -- during the second half of 2003," notes the Conference Board. This suggests a continuation of inflation-adjusted GDP growth in South Korea "at, or slightly below," an average annual rate of 7%, the group says.