Korea’s Q3 GDP grows at slower pace, misses forecast

27-Oct-2021 Intellasia | Reuters | 5:02 AM Print This Post

South Korea’s economy grew at a slower pace in the third quarter, as robust exports were offset by weak domestic demand and construction and facility investments, data from the Bank of Korea showed on Tuesday.

Gross domestic product (GDP) grew a seasonally adjusted 0.3 percent in the September quarter from three months earlier, slowing from 0.8 percent growth in the preceding quarter and missing a median 0.6 percent growth tipped in a Reuters survey.

From a year earlier, Asia’s fourth-largest economy expanded 4.0 percent during the third quarter, down sharply from a 6.0 percent expansion in the second quarter, which was the fastest in a decade. That also compares to a 4.2 percent rise seen in the survey.



Category: Korea

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