(1888PressRelease)
October 30, 2007 - South Korea's economic growth slowed in the third quarter, the Bank of Korea has announced.
The state bank said gross domestic product was up 1.4 per cent during the third quarter compared with the preceding period.
This was in line with predictions from 11 analysts surveyed by the Bloomberg news agency who pegged the figure at a median estimate of 1.5 per cent.
The slowdown come after the country recorded a rise of 1.8 per cent during the second quarter - the fastest rate recorded for three and a half years.
Year on year growth now stands at 5.2 per cent, marking a period of 15 years of sustained economic expansion.
George Worthington, chief economist for Asia Pacific at Thomson IFR, told Bloomberg: "The overall picture looks pretty good with private consumption strengthening quite a bit.
"I wouldn't think the U.S. sub-prime issue will affect South Korea or any country, other than the U.S., too much.''
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