FX.co ★ South Korea GDP Rises 0.1% In Q3

In its preliminary report released on Thursday, the Bank of Korea announced that South Korea's gross domestic product (GDP) showed a modest quarter-on-quarter growth of 0.1% in the third quarter of 2024. This figure fell short of the anticipated 0.5% increase and follows a 0.2% decline in the second quarter. On an annual basis, GDP experienced a 1.5% rise, once again underperforming against the forecasted 2.0% growth, and represents a decrease from the 2.3% expansion observed in the previous three-month period. Meanwhile, real gross domestic income (GDI) saw an improvement, rising by 0.5% from the prior quarter.