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, 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, construction, and primary activity. Services grew by 0.5 percent for the second straight period. On an annual basis, the economy expanded 2.0 percent (unchanged from a preliminary reading), slowing from a 2.8 percent growth in the previous three months and in line with market expectations. GDP Growth Rate in South Korea averaged 1.79 percent from 1960 until 2018, reaching an all time high of 7.80 percent in the fourth quarter of 1970 and a record low of -7 percent in the first quarter of 1998.
GDP Growth Rate in South Korea is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in South Korea to stand at 1.00 in 12 months time. In the long-term, the South Korea GDP Growth Rate is projected to trend around 1.00 percent in 2020, according to our econometric models.