The growth of South Korea has somewhat disappointed the analysts. The country registered an economic growth of 0.6% in the third quarter compared to the previous quarter. A rate lower than expected as analysts had forecast 0.7 per cent.
compared to the third quarter of 2015, GDP growth is 2.6% instead of 2.7% in the first estimate, according to data released Friday by the Bank of Korea.
the”huge Impact on the growth”
The fault to the Galaxy Note 7. After extensive problems of explosion of the batteries, Samsung has suspended its production and has asked its customers to stop using the device. “Exports of smartphones have had a huge impact on the growth of the third quarter. They have fallen more than expected when one looks closely at the data,” says Kim Young-tai, director of national accounts of the central bank.
exports rose by 0.6% in the third quarter, compared to the previous quarter, while the increase had been estimated at 0.8% in October.
The director of national accounts of the central bank did not give a growth forecast for the fourth quarter. Nevertheless, it is a bit optimistic. If the Samsung was predictable in the third quarter, he was afraid of the repercussions in the last quarter.
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