South Korea’s economy grew at a slower-than-expected pace in the third quarter, as subdued private consumption and weak construction and facility investment offset robust exports. Gross domestic product (GDP) grew a seasonally adjusted 0.3% in the third quarter, the Bank of Korea (BOK) data showed on Tuesday, the slowest in five quarters and following a 0.8% rise in the preceding three months. It also fell short of the 0.6% growth tipped in a Reuters survey. Private consumption, which generates nearly half of South Korean GDP, contracted 0.3% in the September quarter after a 3.6% rise in the second quarter, while construction and facility investments also swung to declines of 3.0% and 2.3%, respectively.