Financial News: South Korea GDP Shrinks 0.2% In Q1

South Korea GDP Shrinks 0.2% In Q1

06/04/2025 - 19:18:00 (RTTNews)

(RTTNews) - South Korea's gross domestic product contracted a seasonally adjusted 0.2 percent on quarter in the first quarter of 2025, the Bank of Korea said on Thursday.

That was in line with expectations and unchanged from the previous three months.

On an annualized basis, GDP was flat - beating forecasts for a drop of 0.1 percent and down from 1.2 percent in the three months prior.

Real gross national income (real GNI) increased by 0.1 percent on quarter in the first quarter.

On the production side, manufacturing decreased by 0.6 percent, mainly due to decreases in chemicals & chemical products and machinery & equipment.

Construction decreased by 0.4 percent, led by a decrease in building construction. Services decreased by 0.2 percent, as transportation & storage and real estate decreased while finance & insurance and information & communication increased.

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