SEOUL (Reuters) – South Korea’s economy barely grew in the third quarter, missing market expectations, advanced central bank estimates showed on Thursday.
In the July-September quarter, gross domestic product expanded 0.1% from a quarter earlier on a seasonally adjusted basis, according to the Bank of Korea.
That compares with a fall of 0.2% in the second quarter and an increase of 0.5% tipped in a Reuters poll of economists.
On an annual basis, the economy grew 1.5%, weaker than the previous quarter’s 2.3% and economists’ expectations of 2.0%. It was the slowest since the third quarter of 2023.
(Reporting by Jihoon Lee; Editing by Tom Hogue)
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