According to CoinMeta, preliminary estimates released by the Bank of Korea on Tuesday show that the economy grew by 1.0% in the third quarter, higher than the market's forecast of 0.7%. Exports grew by 2.3% in the third quarter, mainly driven by strong shipments of semiconductors, machinery, and electrical equipment. With increased investment in chip manufacturing equipment, equipment investment grew by 4.1%. However, households reduced their spending on goods and services, leading to a 0.2% decline in private consumption. Government consumption, on the other hand, increased by 1.9%. South Korean policymakers have listed inflation and the continuous growth of household debt as major concerns. The Bank of Korea expects the economy to continue its upward trend and stated, "Driven by the strong performance of the semiconductor industry, exports and investment are expected to maintain high growth, while the pace of consumer recovery may gradually accelerate."