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South Korea Q4 GDP Growth at Over 2-Year High
South Korea’s quarterly GDP growth increased to 1.2 percent in the three months to December 2019, accelerating from 0.4 percent in the previous quarter and beating market expectations of a 0.8 percent expansion. It was the strongest growth rate since the third quarter of 2017, as utilities (3.9 percent vs -13.6 percent in Q3) and construction (4.9 percent vs -4.9 percent) rebounded. Additionally, output rose further in agriculture, forestry & fishing (2.2 percent vs 0.6 percent) and services (0.7 percent vs 0.6 percent). Meanwhile, manufacturing output went up 1.6 percent, slowing from a 2.4 percent in the prior period.
Published on 2020-01-21

South Korea GDP Growth Confirmed at 0.4%
South Korea’s quarterly GDP growth was confirmed at 0.4 percent in the three months to September 2019, easing from 1.0 percent in the previous quarter, due to a slower rise in services and sharp declines in utilities and construction. On the expenditure side, household consumption and government spending grew less while fixed investment shrank.
Published on 2019-12-02

South Korea Quarterly GDP Growth Below Consensus
South Korea’s economy grew 0.4 percent in the three months to September 2019 compared to 1.0 percent in the previous quarter and below market expectations of 0.5 percent. Softer growth was mainly explained by a slower rise in services and declines in utilities and construction. On the expenditure side, household consumption and government spending grew less while fixed investment shrank.
Published on 2019-10-23

South Korea Q2 GDP Growth Revised Slightly Lower
South Korea’s quarterly GDP growth was revised lower to 1.0 percent in the three months to June 2019 from a preliminary estimate of 1.1 percent and compared to a 0.4 percent contraction in the previous period. It was the strongest growth rate since the first quarter of 2018, as manufacturing, construction and utilities output rebounded firmly.
Published on 2019-09-02

South Korea Q2 GDP Growth at Near 2-Year High
South Korea’s GDP advanced 1.1 percent on quarter in the three months to June 2019, after a 0.4 percent contraction in the previous quarter and above market consensus of a 1.0 percent expansion. It was the strongest growth rate since the third quarter of 2017, as manufacturing and construction output rebounded and utilities surged 8.3 percent.
Published on 2019-07-24

South Korea Q1 GDP Falls More than Initially Estimated
South Korea’s GDP declined 0.4 percent on quarter in the first three months of 2019, down from the advanced estimate and market expectations of a 0.3 percent contraction and compared to a downwardly revised 0.9 percent expansion in the previous period. This was the slowest growth rate since Q4 2008. On the production side, GDP was dragged by contractions in manufacturing and construction. On the expenditure side, trade and gross fixed capital formation were the main draggers.
Published on 2019-06-03

South Korea Economy Unexpectedly Shrinks in Q1
The South Korean economy shrank 0.3 percent quarter-on-quarter in the three months to March 2019, after a 1.0 percent expansion in the previous three months and missing market expectations of 0.3 percent growth, advanced data showed. It was the first contraction in five quarters and the steepest since the last quarter of 2008, as utilities and manufacturing contracted sharply and construction shrank for the third time in over the last four quarters.
Published on 2019-04-24

South Korea GDP Growth Confirmed at 1% in Q4
The South Korean economy advanced 1.0 percent quarter-on-quarter in the three months to December 2018, up from a 0.6 percent expansion in the previous three months and matching a preliminary estimate and market expectations, final data showed. It was the strongest growth rate since the first quarter of the year, mainly boosted by final consumption (1.5 percent vs 0.7 percent in Q3), of which government spending (3.0 percent vs 1.5 percent), and private consumption (1.0 percent vs 0.5 percent). Also, gross fixed capital formation rebounded 1.9 percent, following a 4.6 percent contraction in the previous three-month period. Meantime, exports shrank 1.5 percent (vs +3.9 percent in Q3) and imports climbed 1.5 percent (vs -0.7 percent in Q3).
Published on 2019-03-04

South Korea GDP Grows 1% QoQ and Beats Expectations
The South Korean economy advanced 1.0 percent quarter-on-quarter in the three months to December 2018, up from 0.6 percent in the previous three months and market expectations, advanced data showed. It was the fastest expansion in three quarters, as growth was mainly nudged by final consumption (+1.5 percent vs +0.7 percent), with government spending surging 3.1 percent (vs +1.5 percent), compared to a 1.0 percent expansion in private spending (vs +0.5 percent in Q3). Also, gross fixed capital formation rebounded 1.8 percent, following a 4.6 percent contraction in the previous three-month period. Meantime, exports shrank 2.2 percent (vs +3.9 percent) and imports edged up 0.6 percent (vs -0.7 percent).
Published on 2019-01-21

South Korea GDP Growth Confirmed at 0.6% QoQ in Q3
The South Korean economy advanced 0.6 percent quarter-on-quarter in the three months to September 2018, the same pace as in the previous period, matching market consensus and the preliminary reading, final data showed. Growth was mainly driven by a strong 2.3 percent expansion in manufacturing (vs +0.6 percent in the previous period), more than offsetting contractions in utilities, construction, and primary activity. Services grew by 0.5 percent for the second straight period. On an annual basis, the economy expanded 2.0 percent (unchanged from a preliminary reading), slowing from a 2.8 percent growth in the previous three months and in line with market expectations.
Published on 2018-12-04

South Korea GDP Expands 0.6% QoQ in Q3
The South Korean economy advanced 0.6 percent quarter-on-quarter in the three months to September 2018, the same pace as in the previous period and slightly below market expectations of 0.7 percent, advanced data showed. Growth was mainly driven by a strong 2.3 percent expansion in manufacturing (vs +0.6 percent in the previous period), more than offsetting contractions in utilities, construction, and primary activity. Services grew 0.5 percent for the second straight period. On an annual basis, the economy expanded 2.0 percent slowing from a 2.8 percent growth in the previous three months and missing market consensus of 2.2 percent.
Published on 2018-10-24

South Korea GDP Growth Rate Revised Down to 0.6% QoQ
The South Korean economy advanced 0.6 percent quarter-on-quarter in the three months to June 2018 after a 1 percent expansion in the previous period and below both market expectations and the preliminary print of 0.7 percent, final data showed. The downwardly revised figure was explained by softer expansions in manufacturing and services and steeper contractions in primary activity and construction when compared to preliminary data, with utilities also rebounding less than the original data showed.
Published on 2018-09-03

South Korea Economy Expands 0.7% QoQ
The South Korean economy advanced 0.7 percent quarter-on-quarter in the three months to June 2018 after a 1 percent expansion in the previous period and matching market expectations. The slowdown was explained by softer expansions in manufacturing and services and contractions in primary activity and construction, more than offsetting a sharp rebound in utilities, preliminary estimates showed.
Published on 2018-07-25

South Korea Q1 GDP Growth Revised Lower to 1%
The South Korean economy rebounded 1.0 percent quarter-over-quarter in the three months to March 2018 after a 0.2 percent contraction in the previous period, and slightly below the preliminary estimate of 1.1 percent. Growth was driven by increases in manufacturing, construction and services, while utilities output fell.
Published on 2018-06-01

South Korea GDP Growth Rebounds in Q1
The South Korean economy rebounded 1.1 percent quarter-over-quarter in the three months to March 2018 after a 0.2 percent contraction in the previous quarter and slightly above market expectations of a 1.0 percent climb, advanced data showed. It was the second fastest growth rate in the last ten quarters.
Published on 2018-04-25

South Korea GDP Contracts For 1st Time Since 2008
The South Korean economy shrank 0.2 percent quarter-over-quarter in the three months to December of 2017, in line with earlier estimates and slowing from a downwardly revised 1.4 percent expansion in the prior quarter. It was the first contraction since 2008.
Published on 2018-03-27

South Korea GDP Contracts for First Time in 9 Years
The South Korean economy unexpectedly shrank 0.2 percent on quarter in the three months to December of 2017, compared to market expectations of a 0.1 percent growth and a 1.5 percent expansion in the previous period. It was the first contraction in 9 years, dragged down by declines in manufacturing and construction. By expenditure, a drop in gross fixed investment and a sharper decline in exports also weighed down on the growth. On an annual basis, the GDP expanded by 3.0 percent after rising 3.8 percent in the previous quarter.
Published on 2018-01-24

South Korea Quarterly GDP Growth Revised 10 Bps in Q3
The South Korean economy expanded 1.5 percent on quarter in the three months to September of 2017, 10 basis points higher than the advance estimate and market expectations of 1.4 percent. It is the highest growth rate since the second quarter of 2010, mainly due to rebounds in manufacturing and construction. Meanwhile, services grew further in the third quarter. In contrast, utilities lost steam and primary activity plunged the most since the second quarter of 2015, revised figures showed.
Published on 2017-11-30

South Korea GDP Growth at 7-Year High of 1.4%
The South Korean economy expanded 1.4 percent on quarter in the three months to September of 2017, well above estimates of a 1.0 percent expansion and a 0.6 percent rise for Q2. It is the highest growth rate in seven years, mainly due to rebounds in manufacturing and construction. Meanwhile, utilities lost steam and primary activity plunged the most since the second quarter of 2015, preliminary estimates showed.
Published on 2017-10-25

South Korea GDP Grows 0.6% QoQ in Second Quarter
The South Korean economy advanced 0.6 percent on quarter in the second quarter of 2017, matching the figure given in the advanced estimates and consensus expectations, and lower than the 1.1 percent expansion in the previous quarter. On the production side, slower growth was explained by contraction in construction, manufacturing and primary activity. Contrastingly, utilities returned to growth and services expanded at the faster pace (+0.8 percent) since the fourth quarter of 2015.
Published on 2017-08-31