South Korea GDP Climbs 0.6% On Quarter In Q3

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South Korea GDP Climbs 0.6% On Quarter In Q3

(RTTNews) - South Korea's gross domestic product expanded a seasonally adjusted 0.6 percent on quarter in the third quarter of 2023, Statistics Korea said in Thursday's advance estimate.

That was unchanged from the second quarter reading, and it exceeded expectations for a gain of 0.5 percent.

On an annualized basis, GDP climbed 1.4 percent - again topping expectations for 1.1 percent and up from 0.9 percent in the three months prior.

Real gross domestic income (GDI) increased by 2.5 percent compared to the previous quarter.

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Bank Of Korea Stands Pat On Rates, Lifts 2025 Growth Outlook

Bank Of Korea Stands Pat On Rates, Lifts 2025 Growth Outlook

The Bank of Korea left its interest rate unchanged on Thursday as economic growth improved moderately despite high uncertainty surrounding the outlook. The Monetary Policy Board decided to hold the Base Rate at 2.50 percent. The central bank had previously lowered the benchmark rate by a quarter-point each in May and February.
RTTNews | il y a 14h 28min