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Financial News: South Korea GDP Climbs 0.7% On Quarter In

South Korea GDP Climbs 0.7% On Quarter In Q1

04/25/2022 - 20:18:00 (RTTNews)

(RTTNews) - South Korea's gross domestic product was up a seasonally adjusted 0.7 percent on quarter in the first three months of 2022, the Bank of Korea said in Tuesday's advance estimate.

That exceeded expectations for an increase of 0.6 percent following the 1.2 percent expansion in the previous three months.

On a yearly basis, GDP rose 3.1 percent - again beating forecasts for 2.8 percent and down from 4.2 percent in the three months prior.

Real gross domestic income increased 0.6 percent on quarter and 0.1 percent on year.

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