Südkorea - BIP-Wachstum

South Korea’s economy grew 0.4 percent in the three months to September 2019 compared to 1.0 percent in the previous quarter and below market expectations of 0.5 percent. Softer growth was mainly explained by a slower rise in services and declines in utilities and construction. On the expenditure side, household consumption and government spending grew less while fixed investment shrank.

South Korea’s quarterly GDP growth was revised lower to 1.0 percent in the three months to June 2019 from a preliminary estimate of 1.1 percent and compared to a 0.4 percent contraction in the previous period. It was the strongest growth rate since the first quarter of 2018, as manufacturing, construction and utilities output rebounded firmly.

South Korea’s GDP advanced 1.1 percent on quarter in the three months to June 2019, after a 0.4 percent contraction in the previous quarter and above market consensus of a 1.0 percent expansion. It was the strongest growth rate since the third quarter of 2017, as manufacturing and construction output rebounded and utilities surged 8.3 percent.

South Korea’s GDP declined 0.4 percent on quarter in the first three months of 2019, down from the advanced estimate and market expectations of a 0.3 percent contraction and compared to a downwardly revised 0.9 percent expansion in the previous period. This was the slowest growth rate since Q4 2008. On the production side, GDP was dragged by contractions in manufacturing and construction. On the expenditure side, trade and gross fixed capital formation were the main draggers.

The South Korean economy shrank 0.3 percent quarter-on-quarter in the three months to March 2019, after a 1.0 percent expansion in the previous three months and missing market expectations of 0.3 percent growth, advanced data showed. It was the first contraction in five quarters and the steepest since the last quarter of 2008, as utilities and manufacturing contracted sharply and construction shrank for the third time in over the last four quarters.

The South Korean economy advanced 1.0 percent quarter-on-quarter in the three months to December 2018, up from a 0.6 percent expansion in the previous three months and matching a preliminary estimate and market expectations, final data showed. It was the strongest growth rate since the first quarter of the year, mainly boosted by final consumption (1.5 percent vs 0.7 percent in Q3), of which government spending (3.0 percent vs 1.5 percent), and private consumption (1.0 percent vs 0.5 percent). Also, gross fixed capital formation rebounded 1.9 percent, following a 4.6 percent contraction in the previous three-month period. Meantime, exports shrank 1.5 percent (vs +3.9 percent in Q3) and imports climbed 1.5 percent (vs -0.7 percent in Q3).