South Korea’s gross domestic product shrank a seasonally adjusted 0.4 percent on quarter in the fourth quarter of 2022, the Bank of Korea said on Thursday.
That missed expectations for a decline of 0.3 percent following the 0.3 percent increase in the previous three months.
On an annualized basis, GDP expanded 1.4 percent – also shy of forecasts for a gain of 1.6 percent and slowing from 3.1 percent in the third quarter.
For all of 2022, South Korea’s GDP expanded 2.6 percent.
The material has been provided by InstaForex Company – www.instaforex.com