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Revised S.Korean GDP grows 0.6 pct in Q2

SEOUL
2017-09-02 11:38

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Revised figure for South Korea's gross domestic product (GDP) grew 0.6 percent in the second quarter from the previous quarter, central bank data showed Friday.

The seasonally adjusted real GDP was 386.58 trillion won (344.48 billion U.S. dollars) in the April-June quarter, up 0.6 percent from the previous three-month period, according to the Bank of Korea (BOK).

The revised figure was unchanged from the preliminary GDP expansion unveiled in July.

The second-quarter growth was down from a 1.1 percent increase in the first quarter.

The growth rate of private consumption rebounded to 1 percent in the second quarter from 0.4 percent in the prior quarter, posting the highest in one and a half years.

The rate for government spending accelerated from 0.5 percent to 1.1 percent in the cited period, with the number for facility investment rising from 4.4 percent to 5.2 percent.

Investment in the construction sector inched up 0.3 percent in the June quarter, down from a 6.8 percent increase in the previous quarter.

During the April-June period, exports declined 2.9 percent on weak demand for automobiles and chemical products. Imports fell 1 percent on lower crude oil demand.
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