South Korea Economy Grows 1% in Q3 as AI Chip Boom Offsets Weak Consumption
Updated
Updated · Bloomberg · Oct 27
South Korea Economy Grows 1% in Q3 as AI Chip Boom Offsets Weak Consumption
3 articles · Updated · Bloomberg · Oct 27
Summary
South Korea’s GDP rose 1% in the July-September quarter from the prior three months, beating economists’ 0.8% median forecast and accelerating from 0.6% growth in Q2.
AI-driven demand for chips powered exports and business investment, giving the economy a stronger-than-expected lift in the third quarter.
Consumer spending contracted, underscoring an uneven expansion even as headline growth improved.
That split growth picture could complicate the Bank of Korea’s path toward any further interest-rate hikes.