S. Korea’ sees economy slow

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.