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South Korea Third-Quarter GDP Growth Revised Down

Seoul, South Korea.
John W. Banagan | Photographer's Choice | Getty Images
Seoul, South Korea.

South Korea's economy grew just 0.1 percent in the July-September period from the previous quarter,revised data showed on Thursday, a slight downgrade from an earlier estimate and the slowest in three and a half years.

Over a year earlier, Asia's fourth-largest economy expanded by a revised 1.5 percent in the third quarter, the Bank of Korea said in a scheduled statement, also down slightly from its previous estimate and the worst in three years.

The central bank had previously estimated South Korea's third-quarter growth at 0.2 percent on a quarterly basis and 1.6 percent on an annual basis.

(Read More: Why Bank of Korea's Work Is Done for the Year)

Capital investment and construction spending turned out to have performed worse than estimated, whereas exports and private consumption figures revised upward from the Oct. 26 estimates.

Contact Asia Economy


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