South Korea’s real GDP grows 0.6% quarter-on-quarter in the second quarter (April–June), according to preliminary data from the Bank of Korea. This marks a slowdown from the first quarter’s more than 1% expansion, but it remains above market expectations. The reading also exceeds both the median market forecast of 0.3% and the BOK’s own projection of 0.2% for the quarter. The improvement is supported by a 1.4% rise in exports, with gains attributed to semiconductors and machinery and equipment. Domestic demand shows mixed performance: private consumption increases 0.4%, while facility investment edges up 0.2%. Construction investment declines 0.2%. On an annual basis, real GDP expands 3.7% versus the same period last year. The data also show real gross domestic income (GDI) rises 3.6% from the previous quarter and 15.6% year-on-year, providing an additional measure of domestic purchasing power.
South Korea economy grows 0.6% in Q2, supported by exports
South Korea’s real GDP grows 0.6% quarter-on-quarter in the second quarter (April–June), according to preliminary data from the Bank of Korea. This marks a slowdown from the first quarter’s more than...
- South Korea’s real GDP grows 0.6% quarter-on-quarter in Q2, slowing from Q1 but above forecasts.
- Exports rise 1.4% in Q2, driven by semiconductors and machinery/equipment.
- Private consumption increases 0.4% and facility investment edges up 0.2% in Q2.
- Construction investment falls 0.2% in Q2.
- Real GDP increases 3.7% year-on-year; real GDI rises 3.6% quarter-on-quarter (15.6% year-on-year, per the report).
Korea's economy expanded 0.6 percent from the previous quarter in the second quarter, according to the Bank of Korea (BOK), Thursday. While the pace slowed from the more than 1 percent quarterly growth recorded in the first quarter, it exceeded the market consensus of 0.3 percent. Preliminary data from the central bank showed that real gross domestic product (GDP) grew 0.6 percent from the previous quarter in the April-June period, slowing from a 1.8 percent expansion in the first quarter. The reading topped the median market forecast of 0.3 percent as well as the BOK's own projection of 0.2 percent for the quarter. The expansion was supported by a 1.4 percent increase in exports, driven by semiconductors and machinery and equipment, while private consumption rose 0.4 percent and facility investment edged up 0.2 percent. Construction investment slipped 0.2 percent. Compared with a year earlier, real GDP grew 3.7 percent. Meanwhile, real gross domestic income (GDI), a measure of the purchasing power generated by domestic production, rose 3.6 percent from the previous quarter and 15.6 perce
1 day agoKorea's economy expanded 0.6 percent from the previous quarter in the second quarter, according to the Bank of Korea (BOK), Thursday. While the pace slowed from the more than 1 percent quarterly growth recorded in the first quarter, it exceeded the market consensus of 0.3 percent. Preliminary data from the central bank showed that real gross domestic product (GDP) grew 0.6 percent from the previous quarter in the April-June period, slowing from a 1.8 percent expansion in the first quarter. The reading topped the median market forecast of 0.3 percent as well as the BOK's own projection of 0.2 percent for the quarter. The expansion was supported by a 1.4 percent increase in exports, driven by semiconductors and machinery and equipment, while private consumption rose 0.4 percent and facility investment edged up 0.2 percent. Construction investment slipped 0.2 percent. Compared with a year earlier, real GDP grew 3.7 percent. Meanwhile, real gross domestic income (GDI), a measure of the purchasing power generated by domestic production, rose 3.6 percent from the previous quarter and 15.6 perce
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