1분기 성장률 -1.3%, 국민소득 -0.8%...5월 소비자물가 0.3%하락<br /><br />Our starting point this afternoon.<br />South Korea’s economy contracted in the first quarter of this year compared to the previous quarter.<br />That's slightly better than previous estimates, but the central bank said it’s still the slowest growth in over a decade amid growing economic uncertainties stemming from the COVID-19 pandemic.<br />For more, we have our business correspondent Yoon Jung-min on the line for us.<br />Jung-min, talk us through the latest figures.<br />Mark, the Bank of Korea says South Korea's real gross domestic product fell 1-point-3 percent on-quarter from January to March.<br />But, that latest figure is actually point-1 percentage points higher than the BOK's earlier estimate.<br />The manufacturing sector shrunk by one-percent,... while services contracted 2-point-4 percent.<br />Private consumption plunged over 6-percent.<br />Meanwhile, real gross national income contracted point-8 percent on-quarter during the first three months of the year.<br />It seems COVID-19 has affected the country's overall economic growth in that period.<br />The central bank also released data this morning showing that gross national income per capita was tallied at 32-thousand-115 U.S. dollars last year,... down over 4 percent on-year.<br />That's actually the biggest decline in around a decade.<br />The bank said it was mainly because of low growth and a weaker Korean Won.<br />On top of that, the country's key measure of inflation edged down point-3 percent in May the first decline in 8-months.<br />And this too, is largely because of the COVID-19 pandemic...<br />That's right. South Korea's consumer price index was down point-3 percent on-year in May,... posting the first negative growth in eight months.<br />Statistics Korea attributed the contraction to falling oil prices and lower public service costs.<br />Petroleum product prices plunged over 18 percent,... while industrial goods prices declined 2 percent.<br />The price of agriculture and fishery products, however, went up around 3 percent.<br />That's all from me at this hour. Mark.<br />
