By expenditure, private consumption fell 0.6%, but
facilities and construction investments rose 2.7% and 0.8%,
respectively. Exports dropped 4.6%, while imports declined 3.7%.
The country's gross domestic product grew 1.3% in the
October-December quarter from the same period a year before,
revised down from 1.4% estimated earlier. The full 2022 GDP
growth was unchanged at 2.6%.
(Reporting by Jihoon Lee
Editing by Chris Reese)
SEOUL, March 7 (Reuters) - South Korea's economy
contracted 0.4% in the fourth quarter from a quarter earlier,
revised central bank data showed on Tuesday, matching its
advance estimate released in January.
The contraction followed 0.3% growth in the third quarter
and marked the first quarterly fall since the second quarter of
2020.
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