South Korea Q4 GDP growth rises 1.2% q/q, up from earlier estimate

BOK building

SEOUL: South Korea's economy expanded by a seasonally adjusted 1.2% in the final quarter of 2020, revised central bank (pic) data showed on Thursday, a notch above the 1.1% growth estimated in January.

A 5.2% jump in exports, following a 16.0% surge in the previous quarter, towed the growth, while private consumption and facility investment shrunk 1.5% and 2.0%, respectively, better than the 1.7% and 2.1% contraction reported earlier.

From the year earlier, the economy shrunk a revised 1.2% during the period, better than the 1.4% contraction seen previously.

For the whole of 2020, the economy contracted 1.0%, unchanged from the January estimate.

- Reuters
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