South Korea economic growth rises in Q3, construction sector likely to lend further support

Economic growth in South Korea rose during the third quarter of this year, with the construction sector expected to lend further support for the rest of this year and early next year.

South Korea's economy grew a seasonally adjusted 0.6 percent during the July-September quarter from the previous three-month period, revised data released by the central bank showed Friday, just below a 0.7 percent rise estimated earlier.

Further, over a year earlier, South Korea's gross domestic product expanded by 2.6 percent in the third quarter, the Bank of Korea data showed, also marginally lagging the advanced estimate of 2.7 percent released on Oct 25. In the second quarter, GDP grew by 0.8 percent in sequential terms and 3.3 percent on-year.

Construction grew a still-robust 3.7 percent in the third quarter, although that figure was revised down from the 4.4 percent originally estimated. Annual construction growth was revised to 10.6 percent in the third quarter from the 11.4 percent first estimated.

Meanwhile, the USD/KRW has formed a bullish candle and is trading at 1171.95, up 0.36 percent.