South Korea’s economy expanded 0.4 percent in the three months to September 2019 from 1.0 percent in the previous quarter, matching market expectations and the preliminary print. Softer growth was mainly explained by a slower rise in services and sharp declines in utilities and construction. On the expenditure side, household consumption and government spending grew less while fixed investment shrank.
The economy advanced 2.0 percent year-on-year in the third quarter of 2019, matching growth for the previous period; the preliminary reading, and market expectations. Output in utilities contracted after accelerating in Q2, while picked up for agriculture and manufacturing.
