The South Korean economy advanced 2.7 percent year-on-year in the last quarter of 2014, according to preliminary estimates. It is the lowest growth rate since the third quarter of 2013, due to a slowdown in exports and investment.
In the three months to December, gross fixed capital formation slowed sharply to 0.9 percent (3.5 percent in Q3), due to a 1.9 percent drop in construction investment.
Exports grew at a slower 0.8 percent (2.5 percent in Q3) and imports shrank 0.8 percent (2.7 percent in Q3).
Private consumption advanced 1.4 percent, slightly down from 1.5 percent in the third quarter and government spending grew 3.1 percent (3.5 percent in Q3).
On a quarter-on-quarter basis, the economy grew 0.4 percent and considering full 2014, the GDP expanded 3.3 percent (3 percent in 2013).
1/22/2015 11:27:09 PM