South Korea Q3 GDP rises 1% on AI chip exports, says Al Jazeera
Briefing by News4U · First published
Al Jazeera reports Bank of Korea advance estimates show GDP grew 1% quarter-on-quarter and 3.4% year-on-year, beating forecasts.
Al Jazeera reports South Korea’s economy grew 1 percent quarter-on-quarter and 3.4 percent year-on-year in the July-September quarter, according to advance estimates released by the Bank of Korea on Tuesday. [1]
Exports rose 2.3 percent quarter-on-quarter, driven by semiconductors, while facility investment increased 4.1 percent and intellectual-property investment rose 2.3 percent. [1]
Private consumption fell 0.2 percent, but the results put the economy on track for its strongest annual expansion since 2011, excluding the pandemic. [1]
Sources
- South Korea’s GDP growth beats forecasts amid AI boom
Al Jazeera · · Full text