South Korea’s revised figure for real gross domestic product (GDP), adjusted for inflation, grew 0.3 percent in the third quarter from the previous quarter, central bank data showed.
It was unchanged from the preliminary reading unveiled in late October, according to the Bank of Korea (BOK).
The real GDP contracted 1.3 percent in the first quarter and 3.2 percent in the second quarter each in 2020 due to the COVID-19 pandemic, before rebounding 2.2 percent in the third quarter and 1.1 percent in the fourth quarter.
The country’s GDP growth slowed down this year, with growth rate of 1.7% in first quarter, 0.8 percent in the second quarter and 0.3 percent in the third quarter. Private consumption shrank 0.2 percent in the third quarter from three months earlier as continued pandemic roiled businesses.—Xinhua
