Südkorea Bip-Wachstum

South Korea's economy grew by 0.1% quarter-on-quarter in the fourth quarter of 2024, maintaining the same pace as the previous quarter but falling short of market expectations for a slight acceleration to 0.2%, according to preliminary data. On the demand side, private consumption rose by 0.2%, driven by higher spending on semi-durable goods (e.g., clothing and footwear) and services (e.g., healthcare and education). Government consumption increased by 0.5%, primarily due to higher social security benefits, including healthcare expenditures. In terms of investment, construction investment declined by 3.2%, with decreases in both building construction and civil engineering. However, facilities investment grew by 1.6%, largely due to a rise in spending on machinery, such as semiconductor manufacturing equipment. Exports increased by 0.3%, boosted by higher shipments of IT products like semiconductors, while imports fell by 0.1%, driven by lower demand for motor vehicles and crude oil.