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South Korea GDP Rises 1.3% On Year In Q4
(RTTNews) - South Korea's gross domestic product climbed an annualized 1.3 percent in the fourth quarter of 2022, the Bank of Korea said on Tuesday.
That was shy of expectations for an increase of 1.4 percent and down from 3.1 percent in the third quarter.
On a seasonally adjusted quarterly basis, GDP contracted 0.4 percent - in line with forecasts following the 0.3 percent gain in the three months prior.
For all of 2022, GDP was up 2.6 percent after climbing 4/1 percent in 2021.
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South Korea GDP Growth Fastest In 1 1/2 Years
South Korea's economy logged its fastest growth in one-and-a-half years in the third quarter, thanks to robust consumption and exports. Gross domestic product grew 1.2 percent from a quarter ago, advance estimate from the Bank of Korea showed on Tuesday. This followed second quarter's 0.7 percent expansion.
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Bank Of Korea Holds Rate At 2.50%
The Bank of Korea retained its interest rate on Thursday as inflation remained stable and economic growth continued to improve amid rising concerns over the heated property market. The Monetary Policy Board of the Bank of Korea decided to leave the Base Rate unchanged at 2.50 percent. The central bank had previously lowered the benchmark rate by a quarter-point each in May and February.
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South Korea Producer Prices Rise 0.4% In September
Producer prices in South Korea were up 0.4 percent on month in September, the Bank of Korea said on Wednesday - after slipping 0.1 percent in August.
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South Korea Inflation Jumps 0.5% In September
Consumer prices in South Korea were up a seasonally adjusted 0.5 percent on month in September, Statistics Korea said on Thursday.
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South Korea August Current Account Surplus $9.15 Billion
South Korea posted a current account surplus of $9.15 billion in August, the Bank of Korea said on Thursday - down from $10.78 billion in July.
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South Korea Manufacturing PMI Improves To 50.7 In September - S&P Global
The manufacturing sector in South Korea climbed into expansion territory in September, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 50.7.
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South Korea Has $9.56 Billion Surplus In September
South Korea posted a merchandize trade surplus of $9.56 billion in September, the Customs Office said in Wednesday's preliminary report.
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South Korea Industrial Output Jumps 2.4% In August
Industrial production in South Korea was up a seasonally adjusted 2.4 percent on month in August, Statistics Korea said on Tuesday.
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