S. Korea’ sees econ­omy slow

China Daily (Hong Kong) - - BUSINESS -

South Korea’s sec­ond-quar­ter eco­nomic growth rate al­most halved com­pared with the pre­vi­ous quar­ter, due to weak ex­ports that off­set re­cov­er­ing pri­vate con­sump­tion, cen­tral bank data showed on Thurs­day. Sea­son­ally-ad­justed real gross do­mes­tic prod­uct rose 0.6 per­cent in the June quar­ter, ac­cord­ing to the Bank of Korea, which com­pared with the 1.1 per­cent growth rate in the first quar­ter. The rate jumped from the 0.5 per­cent recorded in the fourth quar­ter of last year to 1.1 per­cent in Q1, be­fore fall­ing back again in Q2. Ex­ports, which ac­count for about half of the ex­port-driven econ­omy, re­treated 3 per­cent in the sec­ond quar­ter on a quar­terly ba­sis, mark­ing the low­est level since the fourth quar­ter of 2008 when the global fi­nan­cial cri­sis peaked.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.