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South Korea GDP Climbs 1.1% On Quarter In Q4

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South Korea GDP Climbs 1.1% On Quarter In Q4

South Korea’s gross domestic product expanded a seasonally adjusted 1.1 percent on quarter in the fourth quarter of 2020, the Bank of Korea said in Tuesday’s advance estimate.

That beat expectations for an increase of 0.7 percent following the 2.1 percent gain in the previous three months.

On a yearly basis, GDP sank 1.4 percent – exceeding forecasts for a drop of 1.7 percent following the 1.1 percent decline in the three months prior.

For all of 2020, GDP was down 1.0 percent.

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