FOREX TradingCharts.com

Financial News: South Korea GDP Accelerates 1.2% In Q4

South Korea GDP Accelerates 1.2% In Q4

01/21/2020 - 19:47:00 (RTTNews)

(RTTNews) - South Korea's gross domestic product climbed a seasonally adjusted 1.2 percent on quarter in the fourth quarter of 2019, the Bank of Korea said in Wednesday's preliminary reading.

That beat forecasts for an increase of 1.0 percent and accelerated from the 0.4 percent gain in the three months prior.

Real gross domestic income (GDI) increased by 0.5 percent compared to the previous quarter.

On the expenditure side, private consumption was up by 0.7 percent, as expenditures on durable goods (e.g. motor vehicles) and services (e.g. food, recreation and culture) increased.

Government consumption rose by 2.6 percent, with increased expenditures on goods and health care benefits.

Construction investment expanded by 6.3 percent, as building construction and civil engineering increased.

Facilities investment grew by 1.5 percent, led by the growth of investment in machinery (e.g. semiconductor manufacturing equipment).

Exports fell by 0.1 percent, due to a decrease in transportation service despite an increase in machinery. Imports remained the same compared to the previous quarter, owing to decreased expenditure of resident households abroad despite increased imports of motor vehicles.

On the production side, agriculture, forestry and fishing increased by 2.2 percent, mainly due to increased crop yields and fishery production. Manufacturing rose by 1.6 percent, mainly due to an increase in machinery and equipment.

Electricity, gas and water supply rose by 3.9 percent, due to an increase in electricity.

Construction expanded by 4.9 percent, owing to increases in building construction and civil engineering.

Services grew by 0.7 percent, led by wholesale & retail trade, accommodation and food services, and human health and social work.

On a yearly basis, GDP advanced 2.2 percent in Q4, exceeding expectations for 2.0 percent - which would have been unchanged from the previous three months.

For all of 2019, South Korea's GDP was up 2.0 percent on year.

On the expenditure side, while the growth of government consumption expanded, construction and facilities investment contracted as private consumption expenditure and export growth slowed.

On the production side, the growth of manufacturing and services slowed down and construction continued to decline. Real GDI fell by 0.4 percent. As the terms of trade worsened due to factors such as a decrease in semiconductor prices, real GDI fell short of real GDP.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Fed Minutes Signal Interest Rates To Remain Unchanged For Some Time (01 hr(s), 06 min(s), 54 sec(s) ago)
(RTTNews) - Leaving interest rates at their current levels is likely to remain appropriate for som ...Full Story»

IMF Says Coronavirus Poses New Threat To Fragile Global Economic Recovery (02 hr(s), 38 min(s), 54 sec(s) ago)
(RTTNews) - Global economy is set for a fragile and shallow recovery and the coronavirus outbreak ...Full Story»

Belgium Consumer Confidence Improves For Second Month (04 hr(s), 16 min(s), 54 sec(s) ago)
(RTTNews) - Belgian consumers were less pessimistic for a second straight month in February, surve ...Full Story»

Turkish Central Bank Cuts Rates Again (04 hr(s), 28 min(s), 54 sec(s) ago)
(RTTNews) - Turkey's central bank cut interest rates for a sixth policy session in a row, citi ...Full Story»

U.S. Housing Starts Pull Back After Reaching 13-Year High (05 hr(s), 58 min(s), 54 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Wednesday showed a pullback in new res ...Full Story»

Eurozone Current Account Surplus Grows (06 hr(s), 05 min(s), 54 sec(s) ago)
(RTTNews) - Euro area current account surolus grew in December after dropping in the previous mont ...Full Story»

U.S. Producer Prices Climb 0.5% In January, Much More Than Expected (06 hr(s), 14 min(s), 54 sec(s) ago)
(RTTNews) - Producer prices in the U.S. increased by much more than anticipated in the month of Ja ...Full Story»

U.S. Housing Starts Pull Back Less Than Expected In January (06 hr(s), 50 min(s), 54 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Wednesday showed a pullback in new res ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Fed Minutes Signal Interest Rates To Remain Unchanged For Some Time

02/19/2020 - 14:31 PM (RTTNews)
(RTTNews) - Leaving interest rates at their current levels is likely to remain appropriate for som ...Full Story>>

IMF Says Coronavirus Poses New Threat To Fragile Global Economic Recovery

02/19/2020 - 12:59 PM (RTTNews)
(RTTNews) - Global economy is set for a fragile and shallow recovery and the coronavirus outbreak ...Full Story>>

Belgium Consumer Confidence Improves For Second Month

02/19/2020 - 11:21 AM (RTTNews)
(RTTNews) - Belgian consumers were less pessimistic for a second straight month in February, surve ...Full Story>>

Turkish Central Bank Cuts Rates Again

02/19/2020 - 11:09 AM (RTTNews)
(RTTNews) - Turkey's central bank cut interest rates for a sixth policy session in a row, citi ...Full Story>>

U.S. Housing Starts Pull Back After Reaching 13-Year High

02/19/2020 - 09:39 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Wednesday showed a pullback in new res ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.