South Korea Reports Economic Slowdown

July 26th, 2012
in econ_news, syndication

Econintersect:  The Korea National Statistical Office has announced that South Korean GDP rose 2Q 2012 by a seasonally adjusted 0.4%, from 0.9% breaking-news-130pxin the preceding quarter.  This was slightly below analyst expectations of an increase of 0.5%.  Year-over year the increase was 2.4%, down from 2.8% in the first quarter.  The year-over year growth was the weakest since the third quarter of 2009 (1.0%) which included the second half of The Great Recession.  Contraction is occurring in construction, as well as agriculture, forestry and fishing.  Growth rates have collapsed to much lower levels than seen in the past few years for manufacturing, exports and imports.

Follow up:

The graph below from Trading Economics shows the quarterly GDP data for South Korea since 3Q 2009.  The graph has not been updated to include the latest quarter.  The graph also has not been updated for the revision downward to 0.3% growth for 4Q 2011.


The following is the introduction to the press release from the BOK (Bank of Korea):


The GDP growth for the last three quarters is less than the last three quarters of 2009, which included the end of The Great Recession, and is also less than any three quarter period since.

GDP data by quarter is summarized in the following table from the BOK press release:


The components table for GDP is also from the BOK press release:


John Lounsbury



Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.

 navigate econintersect .com


Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved