FE Today Logo

S Korean growth slows in third quarter

October 26, 2007 00:00:00


SEOUL, Oct 25 (AFP): South Korea's economic growth slowed in the third quarter after expanding at its fastest pace for three and a half years in the preceding three months, the central bank said today.
Gross domestic product expanded 1.4 per cent quarter-on- quarter in July-September on a seasonally adjusted basis compared with a 1.8 per cent gain in the second quarter, according to an advance estimate by the Bank of Korea.
Year-on-year, GDP grew 5.2 per cent compared to five per cent in the second quarter.
The strong second-quarter performance, coupled with a tepid construction market and lower investment in plant and machinery, contributed to the slower growth in the third quarter, the central bank data showed.

Share if you like