South Korea’s economy was weaker than expected in the third quarter, weighed by lackluster exports, though it improved from the previous quarter helped by strong business investment and improved private consumption.

South Korea's economy barely grew in the third quarter as consumer spending rebounded but exports fell, with the central bank warning of a likely downgrade to its 2024 growth outlook. Gross domestic product in the July-September quarter expanded a seasonally adjusted 0.

South Korea’s economy eked out growth last quarter to rebound from a contraction, underscoring risks from a softening export rally, broadening geopolitical tensions and a US presidential race that weighs on the outlook for trade-reliant nations.