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South Korea GDP Expands 0.3% In Q1
(RTTNews) - South Korea's gross domestic product was up a seasonally adjusted 0.3 percent on quarter in the first quarter of 2023, the Bank of Korea said in Tuesday's advance estimate.
That beat forecasts for an increase of 0.2 percent following the 0.4 percent contraction, avoiding a technical recession in the process.
On an annualized basis, GDP grew 0.8 percent, shy of expectations for a gain of 0.9 percent and slowing from 1.3 percent in the previous quarter.
Real gross domestic income (GDI) increased by 0.8 percent compared to the previous quarter.
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Bank Of Korea Keeps Rates Steady
The Bank of Korea maintained its interest rate on Thursday as rising house prices and household debt pose risks to the financial stability amid escalating trade tensions weighing on economic growth outlook. The Monetary Policy Board decided to leave the Base Rate unchanged at 2.50 percent.
The bank had previously reduced the benchmark rate by a quarter-point each in May and February.
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3 days ago
South Korea Has $10.14 Billion Current Account Surplus
South Korea posted a current account surplus of $10.14 billion in May, the Bank of Korea said on Friday - up from the $5.70 billion surplus in April.
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9 days ago
South Korea Consumer Prices Unchanged In June
Consumer prices in South Korea were flat on a seasonally adjusted monthly basis in June, Statistics Korea said on Wednesday - in line with expectations after slipping 0.1 percent in May.
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11 days ago
South Korea Manufacturing PMI Ticks Higher In June - S&P Global
The manufacturing sector in South Korea continued to contract in June, albeit at a slower pace, the latest survey from S&P Global showed on Tuesday with a manufacturing PMI score of 48.7.
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12 days ago
South Korea June Trade Surplus $9.08 Billion
South Korea posted a merchandise trade surplus of $9.08 billion in June, Statistics Korea said on Tuesday.
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12 days ago
South Korea Industrial Output Sinks 2.9% In May
Industrial production in South Korea was down a seasonally adjusted 2.9 percent on month in May, Statistics Korea said on Monday.
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13 days ago
South Korea Consumer Sentiment Strengthens In June
South Korea's consumer confidence strengthened to a four-year high in June on improving domestic economic conditions, survey data from the Bank of Korea showed on Tuesday. The consumer sentiment index advanced to 108.7 in June from 101.8 in the previous month. This was the highest score in four years. The sub-index measuring future domestic economic situation surged 16 points to 107 in June.
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19 days ago
South Korea Export Prices Sink 3.4% In May
Export prices in South Korea were down 3.4 percent on month in May, the Bank of Korea said on Tuesday, after slipping 1.5 percent in April.
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26 days ago
