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S.Korea's Q2 GDP growth revised down to 0.6 pct

SEOUL
2018-09-04 14:15

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South Korea's gross domestic product (GDP) growth in the second quarter was revised down by 0.1 percentage point, central bank data showed Tuesday.
 
Real GDP, adjusted for inflation, grew 0.6 percent in the April-June quarter compared with the same period of last year, according to the Bank of Korea (BOK)'s revised data.
 
The growth rate was down 0.1 percentage point from the preliminary figure announced in July. The real GDP growth rate rebounded to 1 percent in the first quarter from minus 0.2 percent in the previous quarter, before slumping in the second quarter.
 
From a year earlier, the real GDP expanded 2.8 percent in the June quarter, missing this year's growth forecasts of 2.9 percent by the BOK and the government.
 
Facility investment declined 5.7 percent in the second quarter from a year earlier, marking the lowest since the first quarter of 2016.
 
Construction investment shrank 2.1 percent, 0.8 percentage points lower than the preliminary figure. The investment in the construction sector grew 1.8 percent in the first quarter.
 
Private consumption rose 0.3 percent, but it was the lowest increase since the fourth quarter of 2016.
 
Exports, which take up about half of the export-driven economy, gained 0.4 percent in the quarter, but it was down 0.4 percentage points from the preliminary figure.
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