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Financial News: South Korea GDP Grows 1.9% On Quarter In

South Korea GDP Grows 1.9% On Quarter In Q3

10/26/2020 - 19:11:00 (RTTNews)

(RTTNews) - South Korea's gross domestic product gained a seasonally adjusted 1.9 percent on quarter in the third quarter of 2020, the Bank of Korea said in Tuesday's advance estimate.

That beat estimates for an increase of 1.7 percent following the 3.2 percent decline in the three months prior.

Real gross income gained 2.5 percent on quarter after shedding 1.9 percent in the second quarter.

On a yearly basis, GDP was down 1.3 percent - again beating forecasts for a fall of 1.9 percent following the 2.7 percent drop in the previous three months.

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