South Korea revised Q3 GDP +0.3% q/q, in line with earlier estimate

November 30, 2022 6:08 PM EST

FILE PHOTO: A woman shops amid the coronavirus disease (COVID-19) pandemic in Myeongdong shopping district in Seoul, South Korea, July 9, 2021. REUTERS/ Heo Ran

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SEOUL (Reuters) - South Korea's economy grew in the third quarter by a seasonally adjusted 0.3% from a quarter earlier, revised central bank data showed on Thursday, unchanged from the advance estimate released earlier.

It was slower than 0.7% in the second quarter and the slowest quarterly growth rate since the third quarter of 2021.

By expenditure, private consumption advanced 1.7% and facilities investment jumped 7.9%, but construction investment fell 0.2%. Exports rose 1.1%, while imports grew 6.0%.

The country's gross domestic product expanded 3.1% on a year-on-year basis, also unchanged from the earlier estimate.

(Reporting by Jihoon Lee; Editing by Chris Reese)

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