South Korea Q3 GDP Growth Confirmed at 0.6% QoQ


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 matching market consensus and the preliminary reading, final 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 (-0.4 percent vs 9.4 percent in Q2), construction (-5.7 percent vs -3.1 percent), and primary activity (-5.5 percent vs -2.8 percent). Meantime, services grew by 0.5 percent for the second straight period.

On the expenditure side, government spending rose 1.5 percent (vs 0.3 percent in Q2 vs preliminary 1.6 percent) and private expenditure 0.5 percent (vs 0.3 percent in Q2 vs preliminary 0.6 percent), whereas gross fixed capital formation plunged 4.6 percent (vs -2.9 percent in Q2 vs preliminary 4.5 percent), mainly dragged by a 6.7 percent contraction in construction (vs -2.1 percent in Q2 vs preliminary 6.4 percent). Exports grew 3.9 percent while imports edged down 0.7 percent.


On an annual basis, the economy expanded 2.0 percent (unchanged from preliminary) slowing from a 2.8 percent growth in the previous three months and in line with market expectations.

South Korea Q3 GDP Growth Confirmed at 0.6% QoQ


Bank of Korea | Mario | mario@tradingeconomics.com
12/4/2018 10:52:40 AM