S. Korean exports continue 17-month fall
in the year toMarch 2016, according to the Australian Bureau of Statistics, versus 2.8 percent expected and 2.9 percent in the fourth quarter of 2015, thanks to rebounding consumer spending, net exports and a vibrant housing sector. It was the fastest pace of yearly expansion since the third quarter of 2012. “The economy is showing a transition from miningbased investment to production with new engineering construction falling for the 10th consecutive quarter and mining production growing,” the ABS said in a statement. South Korea’sMay exports fell for the 17th month running, although at the slowest rate this year, a government report showed on Wednesday. Exports account for about half of the export-driven economy, and shed 6.0 percent from a year earlier to $39.8 billion, according to theMinistry of Trade, Industry and Energy. The country’s exports posted a double-digit reduction this year except for March, when the shipments contracted 8.2 percent.
Students sitting in a model of the Shenzhou spacecraft at Xi’an Skycity in Shaanxi province. The site plays host to a center for space exploration, and Xi’an continues to remain one of China’s most popular tourist cities.