SEOUL: South Korea's economy grew a seasonally adjusted 0.9 percent in the fourth quarter over the previous three months led by private consumption and capital investsment, the central bank estimated on Thursday, meeting market expectations.
The median forecast from a Reuters survey of 15 analysts was for Asia's fourth-largest economy to expand by 0.9 percent in the three months to December, following growth of 1.1 percent in both the second and third quarter of 2013.
Private consumption during the October-December period grew by a seasonally adjusted 0.9 percent from the previous quarter, while investment in production facilities grew by 6.4 percent, the Bank of Korea's advance estimates showed.
Over a year earlier, gross domestic product for the fourth quarter was 3.9 percent higher, following a 3.3 percent gain in the third quarter and compared with a median 4.0 percent rise tipped in the Reuters survey.
Growth for the whole of 2013 quickened to 2.8 percent from 2.0 percent in 2012, the estimate showed, while the Bank of Korea has forecast growth would further pick up to 3.8 percent this year.
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