South Korea GDP Expands More than Expected


The South Korean economy advanced 1.3 percent on quarter in the three months to September of 2015, higher than a preliminary estimate of 1.2 percent and the biggest growth rate since the second quarter of 2010. Private consumption and construction investment boosted the expansion, final figures showed.

Private consumption went up 1.2 percent, better than a 1.1 percent gain initially estimated and construction investment grew at a faster 5 percent (4.5 percent initially estimated). Government spending increased 1.7 percent, below 1.9 percent in the preliminary estimate; facilities investment grew 1.8 percent (2 percent in the preliminary estimate) and investment in IP products edged up 0.1 percent, less than 0.2 percent previously reported. Exports shrank at a faster 0.6 percent (-0.2 percent in the preliminary estimate) and imports expanded less than expected (1.1 percent from 1.3 percent).
 
On a yearly basis, the economy advanced 2.7 percent, up from an initial estimate of 2.6 percent. 

South Korea GDP Expands More than Expected


Bank of Korea l Joana Taborda | joana.taborda@tradingeconomics.com
12/2/2015 11:18:10 PM