South Korea revised Q3 GDP +0.3% q/q, in line with earlier estimate

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A woman shops amid the coronavirus disease (COVID-19) pandemic in Myeongdong shopping district in Seoul

SEOUL (Reuters) – South Korea’s economy grew in the third quarter by a seasonally adjusted 0.3% from a quarter earlier, revised central bank data showed on Thursday, unchanged from the advance estimate released earlier.

It was slower than 0.7% in the second quarter and the slowest quarterly growth rate since the third quarter of 2021.

By expenditure, private consumption advanced 1.7% and facilities investment jumped 7.9%, but construction investment fell 0.2%. Exports rose 1.1%, while imports grew 6.0%.

The country’s gross domestic product expanded 3.1% on a year-on-year basis, also unchanged from the earlier estimate.

(Reporting by Jihoon Lee; Editing by Chris Reese)

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