South Korea revised Q2 GDP +0.6% q/q, unchanged from earlier estimate

South Korea's economy grew 0.6% in the second quarter from the previous quarter, revised central bank data showed on Tuesday, unchanged from its advance estimate. Asia's fourth-largest economy is expected to grow 1.4% in 2023, a three-year low after an expansion of 2.6% in 2022 and 4.3% in 2021, according to the Bank of Korea.

South Korea's economy grew 0.6% in the second quarter from the previous quarter, revised central bank data showed on Tuesday, unchanged from its advance estimate. The expansion in the country's gross domestic product (GDP) during the April-June period followed a 0.3% increase in the preceding three months and marked the fastest since the second quarter of 2022.

GDP grew 0.9% in the second quarter over a year earlier, also the same as the advance estimate in July. Asia's fourth-largest economy is expected to grow 1.4% in 2023, a three-year low after an expansion of 2.6% in 2022 and 4.3% in 2021, according to the Bank of Korea.