S Korean growth slows in third quarter
Friday, 26 October 2007
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.
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.