South Korea Q4 GDP growth rises 1.2% q/q, up from earlier estimate

SEOUL, March 4 (Reuters) - South Korea’s economy expanded by a seasonally adjusted 1.2% in the final quarter of 2020, revised central bank data showed on Thursday, a notch above the 1.1% growth estimated in January.

A 5.2% jump in exports, following a 16.0% surge in the previous quarter, towed the growth, while private consumption and facility investment shrunk 1.5% and 2.0%, respectively, better than the 1.7% and 2.1% contraction reported earlier.

From the year earlier, the economy shrunk a revised 1.2% during the period, better than the 1.4% contraction seen previously.

For the whole of 2020, the economy contracted 1.0%, unchanged from the January estimate. (Reporting by Joori Roh; Editing by Leslie Adler)