South Korea Q3 GDP slows slightly, but better than forecast

[SEOUL] South Korea's economy grew 0.7 per cent in the third quarter over the previous three-month period, central bank estimates showed on Tuesday, marginally ahead of market expectations but slowing slightly from the second quarter.

The seasonally adjusted reading, down from a 0.8 per cent gain in the second quarter, compared with a median 0.6 per cent rise tipped in a Reuters survey.

Over a year before, Asia's fourth-largest economy expanded by 2.7 per cent in the September quarter, compared with a median forecast for a 2.6 per cent gain and 3.3 per cent growth in the second quarter.

The Bank of Korea estimates showed private consumption rose 0.5 per cent in the third quarter over the previous three months after gaining by one per cent in the April-June period.

Capital investment slipped 0.1 per cent in the third quarter after growing 2.8 per cent in the second quarter, while construction investment rose 3.9 per cent after a 3.1 per cent rise, the estimates showed.

REUTERS