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Economic Report

Economic reports, briefs issued by Samsung Economic Research Institute

Third Quarter GDP Expands 1.1%

Third Quarter GDP Expands 1.1%

Oct. 28, 2013

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Korea's third quarter gross domestic product (GDP) grew 1.1% from the previous quarter said the Bank of Korea (BOK). According to the central bank, the third quarter growth exceeded the bank's own forecast of 1%. Previously, the GDP growth rate remained below 1% for eight consecutive quarters until it bounded to 1.1% in the second quarter of this year. Compared to the same period last year, the GDP rose 3.3%, setting a new high in seven quarters.

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