South Korea GDP Expands 0.6% QoQ in Q3

The South Korean economy advanced 0.6 percent quarter-on-quarter in the three months to September 2018, the same pace as in the previous period and slightly below market expectations of 0.7 percent, advanced data showed.

Growth was mainly driven by a strong 2.3 percent expansion in manufacturing (vs +0.6 percent in the previous period), more than offsetting contractions in utilities, construction, and primary activity. Services grew 0.5 percent for the second straight period.

On the expenditure side, government spending rose 1.6 percent and private expenditure 0.6 percent, whereas gross fixed capital formation plunged 4.5 percent, mainly dragged by a 6.4 percent contraction in construction. Exports grew 3.9 percent while imports edged down 0.1 percent.

On an annual basis, the economy expanded 2.0 percent, slowing from a 2.8 percent growth in the previous three months and missing market consensus of 2.2 percent.

South Korea GDP Expands 0.6% QoQ in Q3

Mario |
10/25/2018 8:48:43 AM