South Korea's gross domestic product gained a seasonally adjusted 1.3 percent on quarter in the fourth quarter of 2019, the Bank of Korea said on Tuesday - following the 0.4 percent gain in the previous three months.
On a yearly basis, GDP gained 2.3 percent, up from 2.0 percent in the third quarter.
Real gross national income (real GNI) increased by 0.5 percent in the fourth quarter of 2019 compared to the previous quarter.
On the production side, manufacturing rose by 1.6 percent, mainly due to an increase in machinery and equipment.
Construction expanded by 5.6 percent, owing to increases in building construction and civil engineering.
Services rose by 0.8 percent, led by information and communication, human health and social work, wholesale and retail trade and accommodation and food services.
On the expenditure side, private consumption was up by 0.9 percent, as expenditures on durable goods (e.g. motor vehicles) and services (e.g. food, recreation and culture) increased.
Government consumption rose by 2.5 percent, with increased expenditures on goods and health care benefits.
Construction investment expanded by 7.0 percent, as building construction and civil engineering increased.
Facilities investment grew by 3.3 percent, led by the growth of investment in machinery.
Exports increased by 0.5 percent, due to increases in machinery and chemical products, despite a decrease in motor vehicles. Imports were up by 0.6 percent, owing to increased imports of machinery.
Nominal GNI increased by 0.8 percent in the fourth quarter of 2019 relative to the quarter before, with a 0.7 percent increase in nominal gross domestic product (nominal GDP) and an increase of net factor income from the rest of the world.
Real GNI increased by 0.5 percent compared to the previous quarter as the trading losses from changes in the terms of trade expanded despite an increase in real gross domestic product.
The GDP deflator dropped by 0.9 percent year on year.
The gross saving ratio (gross saving/gross national disposable income) stood at 34.2 percent, 0.8 percentage points lower than in the previous quarter, as the final consumption expenditure (1.8 percent) increased more than nominal gross national disposable income (0.5 percent). The gross domestic investment ratio (gross capital formation/GNDI) was 30.7 percent, 0.3 percentage points higher than in the previous quarter, as construction and facilities investment increased.
For all of 2019, GDP was up 2.0 percent.
On the expenditure side, while the growth of government consumption continued and the contraction of construction investment moderated, the growth of exports and private consumption slowed and facilities investment declined by a larger amount compared to the previous year.
On the production side, while the decline in construction was alleviated, the growth of manufacturing and services slowed. Real GNI rose by 0.3 percent as the terms of trade worsened due to factors such as a decrease in semiconductor prices, although real gross domestic product (real GDP) and real net factor income from the rest of the world increased.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2152697/
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