[BREAKING NEWS] Economic growth rate of 0.1% in Q3... "Slightly growth due to slowing exports"

As exports slowed more than expected in the third quarter, our economic growth rate was only 0.1%.

According to the Bank of Korea data, gross domestic product, GDP grew 0.1% in the third quarter of this year from the previous quarter.

Although it has escaped negative growth in the second quarter, it is below market expectations of around 0.5%.

Private consumption, which was negative last quarter, rose to 0.5%, and facility investment rose as much as 6.9%, leading the overall growth rate.

However, exports fell 0.4% and turned negative, while construction investment plunged 2.8%, limiting growth.

The BOK said domestic demand showed recovery as expected, but only grew slightly as export growth slowed.

At the same time, he diagnosed that uncertainties related to this year's and next year's growth rates have grown.

In response, he said he would explain the details of the economic outlook on the 28th of next month after checking the pace of domestic demand recovery, major economies, and changes in global trade conditions.