South Korea Economy Expands 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.

Slower increases were recorded for manufacturing (+0.6 percent vs +1.6 percent in Q1) and services (+0.5 percent vs +1.1 percent), and contractions in primary activity (-2.8 percent vs +6.0 percent) and construction (-3.1 percent vs +2.1 percent), more than offsetting a sharp rebound in utilities (+9.4 percent vs -7.0 percent).

By expenditure, the softer overall growth was explained by a sharp 2.9 percent decline in gross fixed capital formation (vs +2.0 percent), with facilities falling 5.7 percent (vs +3.4 percent); construction 2.1 percent (vs +1.8 percent); and intellectual property rights 0.7 percent (vs +0.3 percent). Also, final consumption expenditure expanded less (0.3 percent after a 1.1 percent expansion in the first quarter), with both private and public spending rising 0.3 percent. Meantime, exports grew only 0.4 percent (vs +4.4 percent) and imports declined 3.0 percent (vs +4.9 percent).

Year-on-year, the economy expanded 2.8 percent, matching the 2.8 percent growth recorded for the previous quarter and slightly below the 2.9 percent preliminary expansion and the final consensus estimate.

South Korea Economy Expands 0.6% QoQ


Bank of Korea | Mario | mario@tradingeconomics.com
9/4/2018 11:06:23 AM


News

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.
Published on 2019-01-22

South Korea Q3 GDP Growth Confirmed at 0.6% QoQ
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 matching market consensus and the preliminary reading, final data showed.
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.
Published on 2018-10-25

South Korea Economy Expands 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 2018-09-04