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S. Korea's revised GDP growth stays at 2-year high in Q3

English.news.cn   2013-12-05 10:24:23            

SEOUL, Dec. 5 (Xinhua) -- Revised gross domestic product (GDP) growth in South Korea stayed at a two-year high level in the third quarter due to a turnaround in facility investment and rising private consumption, central bank data showed Thursday.

The country's real GDP, the broadest measure of economic performance, increased 1.1 percent in the third quarter from three months earlier, unchanged from the preliminary figure announced a month earlier, according to the Bank of Korea (BOK).

The third-quarter figure also marked the identical number with the second quarter, staying in the highest level since 1.3 percent tallied in the first quarter of 2011.

The GDP growth stayed below 1 percent for eight straight quarters, before jumping to 1.1 percent in the second quarter and hovering at the same level in the third quarter.

From a year earlier, the real GDP expanded 3.3 percent in the third quarter, the highest in seven quarters.

Exports of goods and services, which account for around half of the economy, reduced 1.3 percent in the third quarter from three months earlier.

The reduction was offset by private consumption, another growth engine of the economy, which rose 1 percent in the third quarter after gaining 0.7 percent in the second quarter.

Facility investment expanded 1 percent during the July- September period, rebounding from a 0.2 percent fall in the second quarter. Investment in the construction sector kept its upward trend for three straight quarters.

Related:

S.Korea's GDP growth stays at 1.1 percent in Q3

SEOUL, Oct. 25 (Xinhua) -- South Korea's gross domestic product (GDP) growth posted 1.1 percent in the third quarter from three months earlier, unchanged from the prior quarter, central bank data showed Friday.

The country's real GDP, the broadest measure of economic performance, increased 1.1 percent in the third quarter from three months earlier after rising by the same margin in the previous quarter, according to the Bank of Korea (BOK). The reading was the highest since 1.3 percent tallied in the first quarter of 2011.  Full story

 

 

Editor: Hou Qiang
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