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Financial News: South Korea GDP Climbs 0.6% On Quarter In

South Korea GDP Climbs 0.6% On Quarter In Q3

10/25/2023 - 19:08:00 (RTTNews)

(RTTNews) - South Korea's gross domestic product expanded a seasonally adjusted 0.6 percent on quarter in the third quarter of 2023, Statistics Korea said in Thursday's advance estimate.

That was unchanged from the second quarter reading, and it exceeded expectations for a gain of 0.5 percent.

On an annualized basis, GDP climbed 1.4 percent - again topping expectations for 1.1 percent and up from 0.9 percent in the three months prior.

Real gross domestic income (GDI) increased by 2.5 percent compared to the previous quarter.

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