South Korea GDP Growth Confirmed At 0.1%

(RTTNews) - South Korea's economy logged a meager growth in the fourth quarter, which was unchanged from the previous estimate, data published by Bank of Korea showed on Wednesday.

Gross domestic product grew 0.1 percent sequentially in the fourth quarter, the same as in the third quarter. The rate also matched the advance estimate.

Similarly, the annual GDP growth was confirmed at 1.2 percent, which followed third quarter's 1.5 percent expansion.

On the expenditure side, private consumption grew at a slower pace of 0.2 percent as expenditures on services increased while expenditures on goods decreased.

At the same time, government spending posted a faster growth of 0.7 percent, with increased expenditures on health care benefits.

At the same time, construction investment slid 4.5 percent, while facilities investment climbed 1.2 percent.

Exports rebounded 0.8 percent, mainly due to IT-items such as semiconductors. Imports increased only 0.1 percent, data showed.