South Korean Economy Slows in Q3

South Korean GDP advanced 3.2 percent year-on-year in the third quarter of 2014, down from a 3.5 percent expansion in the previous period. It is the weakest performance in five quarters as exports and facilities investment slowed sharply.

Private expenditure rose 1.6 percent year-on-year, slightly up from a 1.5 percent increase in the previous quarter. Government spending grew 3.4 percent, (1.7 percent in the second quarter) and construction investment expanded 3 percent (0.2 percent in the preceding period).

In contrast, facilities investment rose at a slower 3.9 percent (7.7 percent in Q2) and exports of goods increased 1.4 percent, slowing from a 3.6 percent expansion in the previous quarter. In contrast, imports rose 1.6 percent, accelerating from a 1.2 percent expansion in the second quarter.

On a quarter-on-quarter seasonally adjusted basis, the economy expanded 0.9 percent.

South Korean Economy Slows in Q3

Bank of Korea | Joana Taborda |
10/24/2014 12:25:40 AM