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S. Korean economy posts 0.3% growth in third quarter: BOK Updated: 2021-10-26 08:21:30 KST

The South Korean economy grew once more in the third quarter this year, but only by a slim margin.
For more on this we have our Min Suk-hyen on the line.
Suk-hyen give us the details.

South Korea's economy grew point-three percent on-quarter during the July to September periodaccording to the Bank of Korea on Tuesday.
The estimated quarterly growth is in fact a slowdown from the previous point-eight percent recorded in the second quarter this year.
The central bank said that the slow growth was due to sluggish investments and consumption amid the fourth wave of the pandemic.
Investment in facilities and construction dipped between two to three percent while private consumption dropped point-three percent as the service sector continues to struggle with pandemic-induced downturns.
Meanwhile, exports remained strong, increasing by 1.5 percent led by shipments of coal, petroleum products, and machinery and equipment goods.

The country's economy has grown for five straight quarters since last year's third quarter.
But, the latest point-3 percent growth casts a shadow over the four percent economic growth outlook for this year?

That's right.
Earlier, the BOK set a four percent growth target for this year, saying that the target rate
can be achieved if the economy expands by more than point-6 percent on-quarter in the remaining quarter of the year.
But, since the third quarter's figure was only half of what was expected at point-three percent, watchers will be keeping a close eye on economic growth in the October to December period.
That's all for now. Back to you.
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