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S. Korea's revised GDP up 0.6 pct in Q3

SEOUL
2023-12-05 09:09

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SEOUL, Dec. 5 (Xinhua) -- South Korea's revised real gross domestic product (GDP), adjusted for inflation, grew 0.6 percent in the third quarter compared to the previous quarter, central bank data showed Tuesday.

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 percent in the fourth quarter of last year.

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

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

Facility investment tumbled 2.2 percent during the quarter, but construction investment expanded 2.1 percent.

The seasonally-adjusted real gross national income (GNI), which measures the combined amount of income earned at home and abroad by people and businesses, climbed 1.6 percent in the third quarter on a quarterly basis.

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 percent in the cited quarter.
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