2023-01-25 23:46:29

South Korea GDP Sinks 0.4% In Q4

Logo RTTNews
RTTNews
By Rtt News Staff Writer

South Korea's gross domestic product contracted a seasonally adjusted 0.4 percent on quarter in the fourth quarter of 2022, the Bank of Korea said on Thursday.

That missed expectations for a decline of 0.3 percent following the 0.3 percent increase in the previous three months.

Real gross domestic income increased 0.1 percent on quarter.

On the expenditure side, private consumption fell 0.4 percent as expenditures on goods (household appliances, clothing and footwear) and services (restaurants and accommodation, recreation and culture) decreased.

Government consumption rose 3.2 percent, with increased expenditures on goods and health care benefits. Construction investment expanded by 0.7 percent, as non-residential building construction increased. Facilities investment was up by 2.3 percent, driven by increases in machinery investment.

Exports contracted by 5.8 percent, as exports of goods such as semiconductors and chemical products decreased. Imports declined by 4.6 percent, owing to decreased imports of crude oil and basic metals.

Continue read on rttnews.com

Logo RTTNews
EconomyBy Rtt News Staff Writer2023-01-25 23:13:40
South Korea's gross domestic product shrank a seasonally adjusted 0.4 percent on quarter in the fourth quarter of 2022, the Bank of Korea said on Thursday....

Logo RTTNews
EconomyBy Rtt News Staff Writer2023-01-25 22:31:29
South Korea will on Thursday release preliminary Q4 numbers for gross domestic product, highlighting a modest day for Asia-Pacific economic activity. GDP is...

Logo RTTNews
EconomyBy Rtt News Staff Writer2023-01-25 23:09:04
Consumer confidence in South Korea improved in January, the latest survey from the Bank of Korea showed on Thursday with a consumer confidence index score of...

Logo Channel NewsAsia
Business / FinanceBy Cna2023-01-20 01:37:12
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide BENGALURU :...

Logo U.S. News & World Report
PoliticsBy Tim Smart2023-01-25 17:47:15
On Thursday, the government will issue its advance estimate of the nations economic output for the fourth quarter of 2022. The report on gross domestic...

Logo Channel NewsAsia
Business / FinanceBy Cna2023-01-25 05:01:15
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide SINGAPORE:...

Logo Inquirer.net
Business / FinanceBy Ronnel W Domingo2023-01-25 18:26:00
The Philippine economys prospects as being among the best performers in Asia last year is on firm ground if only based on most forecasts putting the...

Logo RTTNews
EconomyBy Rtt News Staff Writer2023-01-25 22:59:54
The South Korea stock market has moved higher in three straight sessions, collecting almost 60 points or 2.4 percent along the way. The KOSPI now rests just...

Logo Inquirer.net
Business / FinanceBy J2023-01-25 08:58:39
TOKYO – Japan cut its view on the overall economy for the first time in 11 months in January, as China’s COVID-19 infections and a slowdown in global demand...

Logo CNBC
EconomyBy Patti Domm2023-01-25 21:21:18
Key Points Fourth-quarter gross domestic product will be released at 8:30 a.m. ET on Thursday. It is expected to show that the economy slowed, but still grew...

Logo Channel NewsAsia
Business / FinanceBy Cna2023-01-25 08:24:55
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide TOKYO : Japan...

Logo U.S. News & World Report
PoliticsBy Associated Press2023-01-25 08:18:22
SEOUL, South Korea (AP) Thousands of travelers swarmed a small airport in South Koreas Jeju island on Wednesday in a scramble to get on flights following...

Logo BBC
WorldBy Https://Www Facebook Com/Bbcnews2023-01-24 13:06:00
South Korea has developed into one of Asia's most affluent countries since partition in 1948. The Communist North has slipped into totalitarianism and...

Logo RTTNews
EconomyBy Rtt News Staff Writer2023-01-25 06:13:50
Japan's leading index decreased more than initially estimated in November to the lowest level in nearly two years, final figures from a survey by the Cabinet...

Logo Channel NewsAsia
Business / FinanceBy Cna2023-01-25 02:52:08
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide SINGAPORE :...

Logo U.S. News & World Report
PoliticsBy Associated Press2023-01-25 17:14:34
UNITED NATIONS (AP) The United Nations forecast Wednesday that global economic growth will fall significantly to 1.9% this year as a result of the food and...

Logo RTTNews
EconomyBy Rtt News Staff Writer2023-01-25 08:55:18
Singapore consumer price inflation eased at the end of the year to the lowest level in seven months, largely due to a moderation in private transport costs,...

Logo Channel NewsAsia
Business / FinanceBy Cna2023-01-21 00:49:09
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide SEOUL : South...

Logo Inquirer.net
Business / FinanceBy Jordeene B Lagare2023-01-25 18:20:00
The countrys farm output ended flat in 2022, underperforming the governments expectation of more than 1 percent growth, due to lower crops and fishery...

Logo Nasdaq
Business / FinanceBy Rtt News2023-01-25 12:50:13
(RTTNews) - Kimberly-Clark Corp (KMB) revealed earnings for its fourth quarter that increased from last year and beat the Street estimates. The company's...