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Financial News: South Korea GDP Rises 0.3% On Quarter In

South Korea GDP Rises 0.3% On Quarter In Q3

10/26/2022 - 19:15:00 (RTTNews)

(RTTNews) - South Korea's gross domestic product expanded a seasonally adjusted 0.3 percent on quarter in the third quarter of 2022, the Bank of Korea said on Thursday.

That exceeded expectations for an increase of 0.1 percent following the 0.7 percent growth in the previous three months.

On an annualized basis, GDP was up 3.1 percent - again beating forecasts for 2.8 percent and up from 2.9 percent in the three month prior.

Real gross domestic income (GDI) decreased by 1.3 percent compared to the previous quarter.

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