South Korea's Q3 Economic Growth Stalls at 0.1%, Missing Expectations

The slowdown is attributed to a dip in exports despite a rebound in consumer spending, raising concerns over future growth forecasts.

• South Korea's GDP grew by only 0.1% in the third quarter, falling short of the 0.5% forecasted by economists.
• Exports decreased by 0.4%, marking the first decline since late 2022, while imports increased by 1.5%.
• Consumer spending rose by 0.5%, recovering from a 0.2% drop in the previous quarter.
• The Bank of Korea has already lowered its full-year growth estimate and may revise it downward again in November.
• Interest rates were cut for the first time since 2020, with further reductions being considered due to financial stability concerns.

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