Südkorea Bip-Wachstum

South Korea's economy grew 0.1% quarter-on-quarter in the third quarter of 2024, rebounding from a 0.2% contraction in the previous quarter but coming in way below forecasts for a 0.5% expansion, preliminary data showed. The slight growth was driven mainly by modest increases in government and private consumption. On the expenditure side, private consumption grew by 0.5%, as expenditures on goods (e.g. motor vehicles, communication equipment) and services (e.g. health services, transport services) increased. Government consumption also rose by 0.6%, with increased social security benefits in kind (e.g. expenditures on health care benefits). Meanwhile, construction investment shrank by 2.8%, while facilities investment increased by 6.9%. Elsewhere, exports fell by 0.4%, as exports of motor vehicles and chemical products decreased, while imports were up by 1.5% as imports of machinery & equipment increased.