South Korea's gross domestic product expanded a seasonally adjusted 1.9 percent on quarter in the third quarter of 2020, the Bank of Korea said in Tuesday's advance estimate.
That beat estimates for an increase of 1.7 percent following the 3.2 percent decline in the three months prior.
Real gross income gained 2.5 percent on quarter after shedding 1.9 percent in the second quarter.
On the expenditure side, private consumption contracted by 0.1 percent, as expenditures on semi-durable goods decreased. Government consumption rose by 0.1 percent, mainly due to increased health care benefits.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.