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South Korea GDP Climbs 0.6% In Q2
(RTTNews) - South Korea's gross domestic product expanded a seasonally adjusted 0.6 percent on quarter in the second quarter of 2023, the Bank of Korea said in Tuesday's advance estimate.
That exceeded expectations for an increase of 0.5 percent and was up from 0.3 percent in the previous three months.
Private consumption fell by 0.1 percent, as expenditure on services such as restaurants and accommodations declined while expenditure on goods maintained the previous quarter's level.
On an annualized basis, GDP was up 0.9 percent - unchanged from the first quarter and beating forecasts for a gain of 0.8 percent.
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