South Korea's economic output grew below expectations in the third quarter, dimming prospects of achieving two-percent growth this year. 

According to preliminary data by the Bank of Korea on Thursday, the country's real gross domestic product(GDP) gained point-four percent in the third quarter from the April-June period. 

The latest figure is a setback from the one-percent growth seen in the second quarter. 

Private consumption inched up a tenth of a percent in the cited period, while government spending gained one-point-two percent on-quarter. 

Construction investment slipped five-point-two percent, and facility investment gained point-five percent in the third quarter. 

Exports increased by four-point-one percent, while imports rose point-nine percent on-quarter. 

Third quarter GDP growth failed to meet market projections, which were between point-five percent and point-six percent.