South Korea's Q1 GDP revised down to 1% on-quarter
- 6 years ago
South Korea's central bank has released its GDP figures for the first three months of 2018.
It's a mixed bag with some indicators looking good,... others still struggling to get back on the recovery track.
Kim Hyesung has the details.
South Korea's economy expanded at a seasonally adjusted one percent on-quarter in the first quarter of 2018.
The figure is slightly below the one-point-one percent expansion projected in a preliminary report released in April.
The Bank of Korea attributed the slower pace of growth to a fall in capital and construction investment in March.
In terms of spending, capital investment and construction investment rose three-point-four percent and one-point-eight percent during the January to March period, falling short of the provisional estimate in April.
Private consumption edged up zero-point-one percent to zero-point-seven percent on purchases of durable goods like automobiles and home appliances.
Government spending jumped more than two percent on health care expenditures.
Exports, which account for about half of the country's GDP, rose four-point-four percent on-quarter on the back of semiconductors and machinery goods.
Imports also went up on natural gas purchases.
By economic activity, manufacturing expanded one-point-six percent in the first quarter, construction grew two-point-one percent on-quarter.
The service industry rose around one percent thanks to the financial and insurance sector.
On a yearly basis, GDP growth was unrevised at two-point-eight percent - unchanged from the previous three months and in line with expectations.
Real gross national income rose one-point-three percent in the first quarter.
South Korea's consumer price growth remained in the one percent range for the eighth consecutive month, recording one-point-five percent on-year growth in May.
Soaring vegetable prices and rising global oil prices drove up overall prices.
Core inflation, which excludes oil and food prices, grew one-point-three percent on-year.
Kim Hyesung, Arirang News.
It's a mixed bag with some indicators looking good,... others still struggling to get back on the recovery track.
Kim Hyesung has the details.
South Korea's economy expanded at a seasonally adjusted one percent on-quarter in the first quarter of 2018.
The figure is slightly below the one-point-one percent expansion projected in a preliminary report released in April.
The Bank of Korea attributed the slower pace of growth to a fall in capital and construction investment in March.
In terms of spending, capital investment and construction investment rose three-point-four percent and one-point-eight percent during the January to March period, falling short of the provisional estimate in April.
Private consumption edged up zero-point-one percent to zero-point-seven percent on purchases of durable goods like automobiles and home appliances.
Government spending jumped more than two percent on health care expenditures.
Exports, which account for about half of the country's GDP, rose four-point-four percent on-quarter on the back of semiconductors and machinery goods.
Imports also went up on natural gas purchases.
By economic activity, manufacturing expanded one-point-six percent in the first quarter, construction grew two-point-one percent on-quarter.
The service industry rose around one percent thanks to the financial and insurance sector.
On a yearly basis, GDP growth was unrevised at two-point-eight percent - unchanged from the previous three months and in line with expectations.
Real gross national income rose one-point-three percent in the first quarter.
South Korea's consumer price growth remained in the one percent range for the eighth consecutive month, recording one-point-five percent on-year growth in May.
Soaring vegetable prices and rising global oil prices drove up overall prices.
Core inflation, which excludes oil and food prices, grew one-point-three percent on-year.
Kim Hyesung, Arirang News.