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SOUTH KOREAN ECONOMY EXPANDS 1.8PCT IN Q2.
SEOUL, Sept. 3 Asia Pulse - South Korea's economy expanded a revised 1.8 per cent in the second quarter from three months earlier, up from an earlier 1.7 per cent estimate, mainly on strong manufacturing of semiconductors, machinery and ships, the central bank said Monday.
The gross domestic product (GDP) growth in the April-June period followed an expansion of 0.9 per cent in each of the preceding two quarters, the Bank of Korea (BOK) said in a preliminary report. It was the strongest quarterly growth since a 2.7 per cent rise in the fourth quarter of 2003.
From a year earlier, the second-quarter GDP advanced 5 per cent, up from a 4.9 per cent gain shown in the bank's advance estimate released on July 25.
GDP, the broadest measure of an economy's performance, is the total value of goods and services produced within the economy in a given period.
The manufacturing industry expanded 3.6 per cent in line with the initial estimate, a turnaround from a 0.9 per cent drop three months earlier, on brisk sales of semiconductors, ships, machinery and cars. Service businesses grew at a ...
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