South Korea’s fourth-quarter GDP grows at slowest pace in six quarters, missing expectations

South Korea’s economy expanded 1.2% year-on-year in the fourth quarter, marking its slowest expansion since the second quarter of 2023.

Advance figures showed the figure fell short of the 1.4% expansion expected by economists polled by Reuters, and growth was also softer compared to the 1.5% rise seen in the third quarter of 2024.

On a quarter-on-quarter basis, GDP growth was also below expectations, with the economy growing just 0.1% compared to the 0.2% forecast in the Reuters poll.

However, GDP growth for the full year 2024 was 2% compared to last year’s 1.4% increase.

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