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South Korea GDP Up 1.7% Q/Q in Q1; Manufacturing Up 3.8%

KOREA
MNI (Singapore)
  • South Korea GDP rose 1.7% in the first quarter of 2021, compared with the previous quarter, faster than the 1.1% growth recorded in Q4. The figure is 0.1 percent point higher than the previous estimate.
  • Real GDP rose 1.9% over the year in the first quarter.
  • Manufacturing rose 3.8% in the first quarter, mainly due to the increase in transportation equipment, computer and electronic and optical products.
  • Construction rose 0.9% in the first quarter, driven by the increase in the non-residential construction.
  • Services rose 0.7% in Q1, led by whole and retail sales, accommodation and food services.
  • Private consumption rose 1.2%, as expenditures on durable goods and services increase.
  • Government consumption rose 1.6%, due to the expenditures on goods.

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