South Korea Revises Q1 GDP Growth to 3.8% as AI-Led Export Boom Fuels Activity
South Korea revised first-quarter GDP growth to 3.8% year on year from an earlier 3.6% estimate, the central bank said. Facilities investment was revised up to 6.6% quarter on quarter from 4.8%, while private consumption was nudged up to 0.6% from 0.5%. Construction investment was revised down to 1.4% from 2.8%.
The stronger first-quarter reading suggests the economy had more momentum at the start of the year than initially reported, reinforcing the central bank’s increasingly hawkish stance. An AI-led export boom is fueling business activity.
From the sources (5 posts)
@financialjuiceS. Korea revises Q1 facilities investment up 6.6% quarter-on-quarter, surpassing earlier 4.8% estimate:
@financialjuiceS. Korea revised Q1 GDP growth to 3.8% y/y, up from earlier 3.6% estimate: central bank
@financialjuiceS.Korea revised Q1 private consumption up 0.6% quarter on quarter vs 0.5% estimated earlier: central bank
@financialjuiceS. Korea revises Q1 construction investment to up 1.4% q/q vs earlier 2.8% estimate: central bank
@businessSouth Korea’s economy grew faster at the start of the year than initially estimated, reinforcing the central bank’s increasingly hawkish stance as an AI-led export boom fuels business activity