South Korea GDP Rises 0.1% In Q3
(RTTNews) - South Korea's gross domestic product expanded a seasonally adjusted 0.1 percent on quarter in the third quarter of 2024, the Bank of Korea said in Thursday's preliminary reading.
That missed forecasts for an increase of 0.5 percent following the 0.2 percent contraction in the second quarter.
On an annualized basis, GDP rose 1.5 percent - again missing expectations for a gain of 2.0 percent following the 2.3 percent gain in the three months prior.
Real gross domestic income (GDI) increased 0.5 percent compared to the previous quarter.
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South Korea GDP Expands 0.1% On Quarter In Q3
South Korea's gross domestic product gained a seasonally adjusted 0.1 percent on quarter in the third quarter of 2024, the Bank of Korea said in Thursday's preliminary reading.
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Bank Of Korea Cuts Key Rate For First Time In More Than 4 Years
The Bank of Korea lowered its base rate for the first time in more than four years on Friday, in order to stimulate economy as inflation weakened to the lowest since early 2021 and household debt began to slow on tight macroprudential policies. The Monetary Policy Board headed by Rhee Chang Yong decided to cut the Base Rate by 25 basis points to 3.25 percent from 3.50 percent.
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South Korea August Current Account Surplus $6.60 Billion
South Korea had a current account surplus of $6.60 billion in August, the Bank of Korea said on Tuesday - down from $8.97 billion in July.
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South Korea Inflation Slows To 1.6% On Year In September
Overall consumer prices in South Korea were up 1.6 percent on year in September, Statistics Korea said on Wednesday.
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South Korea Has $6.66 Billion Trade Surplus
South Korea posted a merchandise trade surplus of $6.66 billion in September, the Customs Office said on Tuesday.
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South Korea Industrial Output Climbs 1.2% In August
Industrial production in South Korea was up a seasonally adjusted 1.2 percent on month in August, Statistics Korea said on Monday.
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South Korea Consumer Confidence Index Eases In September
Consumer sentiment in South Korea was slightly softer in September, the Bank of Korea said on Wednesday, with a Composite Consumer Sentiment Index (CCSI) score of 100.0 - down from 100.8 in August.
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South Korea Producer Prices Ease 0.1% In August
Producer prices in South Korea were down 0.1 percent on month in August, the Bank of Korea said on Tuesday - after adding 0.3 percent in July.
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