South Korea economy grows 0.6% in 3Q

The central bank forecast that this year’s economic growth will be in line with its estimate as private spending shows signs of a modest recovery amid rising exports. — Bloomberg

SEOUL: South Korea’s economy grew 0.6% in the third quarter (3Q) of the year, matching an earlier estimate, on the back of reviving exports and domestic demand, central bank data shows.

The country’s real gross domestic product – a key measure of economic growth – increased 0.6% on-quarter in the July-September period, according to data released on Tuesday by the Bank of Korea (BoK).