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South Korea’s revised GDP up 0.6 per cent in Q3

SEOUL (XINHUA) – South Korea’s revised real gross domestic product (GDP), adjusted for inflation, grew 0.6 per cent in the third quarter compared to the previous quarter, central bank data showed yesterday.

It was unchanged from the preliminary figure unveiled in late October, according to the Bank of Korea (BOK). The real GDP kept an upward trend for the third consecutive quarter after sliding 0.3 per cent in the fourth quarter of last year.

Export increased 3.4 per cent during the July-September quarter after retreating 0.9 per cent in the previous quarter.

Private consumption rose 0.3 per cent, and fiscal spending added 0.2 per cent in the third quarter from three months earlier.

The GDP deflator, or the ratio of nominal GDP to real GDP to gauge the change of prices for all goods and services produced in the country, advanced 2.8 per cent in the cited quarter.

Tourists wearing Hanbok, cross a street near Gwanghwamun in Seoul, South Korea. PHOTO: XINHUA
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