South Korea’s GDP Grows Less Than Expected, Future Growth Revised Downward

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“South Korea’s economy grew just 0.1 percent in the July-September period from the previous quarter,revised data showed on Thursday, a slight downgrade from an earlier estimate and the slowest in three and a half years.

Over a year earlier, Asia’s fourth-largest economy expanded by a revised 1.5 percent in the third quarter, the Bank of Korea said in a scheduled statement, also down slightly from its previous estimate and the worst in three years.

The central bank had previously estimated South Korea’s third-quarter growth at 0.2 percent on a quarterly basis and 1.6 percent on an annual basis.”