S Korea’s Q3 GDP q-o-q growth seen slowing

23 October, 2019 12:00 AM printer

SEOUL: South Korea’s economy continued to grow in the third quarter but at a slower pace than in the second, when government spending lifted the pace following a contraction in January-March, a Reuters poll found on Tuesday. The median forecast from 26 economists for gross domestic product in July-September was to expand by a seasonally adjusted 0.5 per cent from the previous quarter, when it grew 1.0 per cent, report agencies.

During the third quarter, a supplementary budget aimed at supporting growth kicked in. “Though contributions from domestic demand will remain sluggish, government expenditure likely continued steady due to supplementary budget, while contributions from net exports were seen.