South Korea's domestic gross product (GDP) growth rate for last year has been provisionally recorded at 1.0%, similar to earlier estimates, with a slightly improved fourth-quarter growth rate of -0.2%, compared to -0.3% initially reported. According to the Bank of Korea's preliminary data, reported on the 10th, the annual nominal GDP increased by 4.2% to 2,663.3 trillion won, while real GDP saw a modest rise of 1.0%. Despite an encouraging rise in government spending by 3.0%, private consumption lagged behind with only a 1.3% increase, and significant declines were noted in construction investment, which fell by 9.8%.