Financial News: South Korea GDP Adds 0.1% In Q3

South Korea GDP Adds 0.1% In Q3

12/04/2024 - 18:14:00 (RTTNews)

(RTTNews) - South Korea's gross domestic product expanded a seasonally adjusted 0.1 percent on quarter in the third quarter of 2024, the Bank of Korea said on Thursday - unchanged from Q2 but missing expectations for an increase of 0.5 percent.

Real gross national income (real GNI) increased by 1.4 percent on quarter in Q3. On the production side, manufacturing increased by 0.2 percent mainly due to increases in transportation equipment and machinery and equipment.

Construction fell by 1.4 percent, as building construction decreased. Services expanded by 0.2 percent, with increases in human health & social work and information and communication, despite decreases in wholesale and retail trade, accommodation and food services, and cultural & other services.

On the expenditure side, private consumption rose by 0.5 percent, as expenditures on goods (e.g., electricity, gas and other fuels, and motor vehicles) and services (e.g., health services and transport services) both increased.

On an annualized basis, GDP was up 1.5 percent - in line with expectations and also unchanged.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Treasury Announces Details Of Two-Year, Five-Year & Seven-Year Note Auctions (02 hr(s), 31 min(s), 55 sec(s) ago)
(RTTNews) - The Treasury Department on Thursday announced the details of this month's auctions ...Full Story»

U.S. Crude Oil Inventories Dip Less Than Expected (02 hr(s), 40 min(s), 55 sec(s) ago)
(RTTNews) - Crude oil inventories in the U.S. decreased by less than expected in the week ended Ja ...Full Story»

Eurozone Consumer Confidence Improves In January (05 hr(s), 32 min(s), 55 sec(s) ago)
(RTTNews) - Euro area consumer confidence grew for the first time in three months in January, but ...Full Story»

U.S. Weekly Jobless Claims Extend Rebound (06 hr(s), 38 min(s), 55 sec(s) ago)
(RTTNews) - After reporting a rebound by first-time claims for U.S. unemployment benefits in the p ...Full Story»

U.S. Weekly Jobless Claims Inch Up More Than Expected (07 hr(s), 31 min(s), 55 sec(s) ago)
(RTTNews) - After reporting a rebound by first-time claims for U.S. unemployment benefits in the p ...Full Story»

UK Manufacturers Expect Output To Fall Further: CBI (08 hr(s), 24 min(s), 55 sec(s) ago)
(RTTNews) - UK manufacturers expect output to decline further in the coming three months, the late ...Full Story»

South Africa Wholesale Sales Plunge 7.3% (08 hr(s), 50 min(s), 55 sec(s) ago)
(RTTNews) - South Africa's wholesale trade declined sharply in November after a strong rebound ...Full Story»

Turkey Central Bank Slashes Rate For Second Straight Time (09 hr(s), 12 min(s), 55 sec(s) ago)
(RTTNews) - Turkey's central bank slashed its benchmark rate by 250 basis points for the secon ...Full Story»