South Korea GDP jumps 1 percent on exports
South Korea’s economy expanded about 1 percent in the July-September period as shoppers increased spending and overseas sales remained robust, the Bank of Korea reported on Thursday. Consumer activity strengthened because of rising equity values and government distribution of shopping vouchers, while semiconductor shipments boosted export performance despite American tariff measures. The nation’s gross domestic product fell 0.2 percent from January through March before recovering with 0.7 percent growth in the second quarter, with official third-quarter figures due next week.
The central bank expects slower expansion in the October-December period as tariffs reduce foreign sales, though annual growth should match the 0.9 percent forecast for this year. Economic recovery should continue in the coming year through domestic demand, yet exports face pressure from trade restrictions. The bank projects 1.6 percent growth for next year and plans to update its outlook in November. Trade negotiations between major economies and semiconductor market cycles create uncertainty for future performance.
