S. Korea's Q3 GDP Expands Beyond Initial Estimates
The revised figure surpasses October's preliminary estimate of 1.2 percent and marks a significant jump from the second quarter's 0.7 percent expansion, the central bank reported.
Quarterly export performance—representing approximately half of the trade-dependent nation's economic output—registered a 2.1 percent gain between July and September. This followed a stronger 4.5 percent surge recorded during the April-June period.
Domestic consumer spending demonstrated robust momentum, advancing 1.3 percent in the three-month period ending September. The uptick significantly outpaced the 0.5 percent growth seen in the preceding quarter.
Investment activity showed mixed but positive signals across sectors. Construction expenditures increased 0.6 percent during the measurement period, while equipment and facility investments posted a stronger 2.6 percent expansion.
The nation's real gross national income—tracking total earnings by domestic citizens and corporations both domestically and internationally—rose 0.8 percent on a quarterly basis through the third quarter.
Meanwhile, the GDP deflator, which measures price fluctuations across all domestically produced goods and services by comparing nominal to real GDP, climbed 2.7 percent year-over-year in the third quarter. This represented a slight deceleration from the 2.8 percent increase posted in the previous three-month span.
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