SEOUL (Reuters) - South Korea’s quarterly growth over October through December expected to just above zero, a finance ministry official said on Thursday just after the central bank estimated third quarter economic growth to be the fastest in more than seven years.
“Growth in the fourth quarter will be just above zero due to base effects and due to growth focusing on the third quarter,” a finance ministry official told Reuters. He declined to be identified as he was not authorized to speak to the media.
The official added that growth for the full year is expected to be around 3.1 to 3.2 percent. The central bank currently sees this year’s growth at 3.0 percent.
Reporting by Shin-hyung Lee; Writing by Christine Kim; Editing by Eric Meijer