S Korea Q3 growth slower than expected
Tuesday, 4 December 2007
SEOUL, Dec 3 (AFP): South Korea's economy grew at a slower pace in the third quarter than expected after expanding at its fastest clip in three and a half years in the second quarter, the central bank said today.
Gross domestic product grew 1.3 per cent in the third quarter from the previous quarter compared to the initial estimate of 1.4 per cent, the Bank of Korea said. It cited slower construction output and plant investment.
GDP in the second quarter had grown 1.8 per cent from the first, the strongest expansion since the fourth quarter of 2003 when it grew 2.7 per cent.
Year-on-year growth stood at 5.2 per cent in the third quarter, unchanged from the earlier estimate, compared to the 5.0 per cent pace in the second.
Gross domestic product grew 1.3 per cent in the third quarter from the previous quarter compared to the initial estimate of 1.4 per cent, the Bank of Korea said. It cited slower construction output and plant investment.
GDP in the second quarter had grown 1.8 per cent from the first, the strongest expansion since the fourth quarter of 2003 when it grew 2.7 per cent.
Year-on-year growth stood at 5.2 per cent in the third quarter, unchanged from the earlier estimate, compared to the 5.0 per cent pace in the second.