South Korea GDP Expands More than Expected
The South Korean economy advanced 1.3 percent on quarter in the three months to September of 2015, higher than a preliminary estimate of 1.2 percent and the biggest growth rate since the second quarter of 2010. Private consumption and construction investment boosted the expansion, final figures showed.
12/2/2015 11:18:10 PM
Private consumption went up 1.2 percent, better than a 1.1 percent gain initially estimated and construction investment grew at a faster 5 percent (4.5 percent initially estimated). Government spending increased 1.7 percent, below 1.9 percent in the preliminary estimate; facilities investment grew 1.8 percent (2 percent in the preliminary estimate) and investment in IP products edged up 0.1 percent, less than 0.2 percent previously reported. Exports shrank at a faster 0.6 percent (-0.2 percent in the preliminary estimate) and imports expanded less than expected (1.1 percent from 1.3 percent).
On a yearly basis, the economy advanced 2.7 percent, up from an initial estimate of 2.6 percent.