South Korea's gross domestic product gained a seasonally adjusted 0.7 percent on quarter in the first three months of 2022, the Bank of Korea said in Tuesday's advance estimate.
That exceeded expectations for an increase of 0.6 percent following the 1.2 percent expansion in the previous three months.
Real gross domestic income increased 0.6 percent on quarter and 0.1 percent on year.
On the expenditure side, private consumption fell by 0.5 percent, as expenditures on semi-durable goods (e.g. clothing and footwear) and services (e.g. recreation and culture, transport, restaurants & accommodation) decreased.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
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.