Arab Today, arab today s korean growth slows to 02
Last Updated : GMT 03:14:05
Arab Today, arab today
Arab Today, arab today

S Korean growth slows to 0.2%

Arab Today, arab today

Arab Today, arab today S Korean growth slows to 0.2%

Seoul - AFP

South Korea's economy grew 0.2 per cent in the third quarter from the previous three months -- the slowest pace in nearly three years as the eurozone crisis impacted investment activity. "Private consumption grew, while exports rebounded from declines in the previous quarter. But facilities investment continued to drop, weighing on the economic activity," the central Bank of Korea (BOK) said in a statement. The July-September rise was lower than the 0.3 expansion recorded in the second quarter and the slowest since the fourth quarter of 2009, which saw a similar 0.2 per cent increase. On a year-on-year basis, gross domestic product in the three months to September 30 was up 1.6 per cent, compared to a 2.3 per cent on-year gain in the second quarter. Exports, which account for about half of GDP, rose 2.5 per cent from the second quarter. South Korea, with an export-led economy, tends to mirror the fortunes of the region and its GDP numbers are often a harbinger of broader trends in Asia. Analysts say Asia's fourth largest economy is expected to rebound in the current quarter, helped by government stimulus and signs of a nascent economic recovery in China, South Korea's largest export destination. Earlier this month, the Bank of Korea cut its growth forecasts for this year and next to 2.4 per cent and 3.2 per cent respectively, from its July projections of 3.0 per cent and 3.8 per cent. The central bank is widely expected to keep monetary policy steady for the rest of the year after two rate cuts this year -- in July and in October -- brought the base rate to 2.75 per cent. The bank earlier said that quarterly growth was likely to stay below 1.0 per cent until the first half of next year. "There is some possibility that the full-year growth may hover below the BOK's 2012 growth estimate," said Lee Sang-jae, a senior economist at Hyundai Securities Co. "But quarterly growth is seen as hitting the bottom in the third quarter. Uncertainty surrounding a fiscal cliff in the US would hinder the full-fledged recovery, but the local economy is expected to be on the moderate recovery trend," Lee said. South Korea's economy has faltered as the global economic downturn -- and in particular the crisis in the eurozone -- has hit overseas shipments. Korean exports fell year-on-year for the third consecutive month in September while manufacturing activity in the same month contracted at the sharpest rate for nearly four years. The HSBC Purchasing Managers' Index for September stood at a seasonally adjusted 45.7, compared with 47.5 the previous month. A reading above 50 indicates expansion in manufacturing activity, while a reading below that level signals contraction. Domestic demand is also showing signs of weakness, with retail sales steadily falling since May.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today s korean growth slows to 02 Arab Today, arab today s korean growth slows to 02

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:58 2017 Saturday ,25 February

US new home sales rise in January

GMT 05:46 2017 Saturday ,25 February

Record unemployment in Brazil

GMT 05:33 2017 Saturday ,25 February

Indian wind power tariffs fall

GMT 05:27 2017 Saturday ,25 February

German construction sector grows
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday