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SOUTH KOREAN ECONOMY GROWS 0.8 PCT IN Q1.
SEOUL, June 2 Asia Pulse - The South Korean economy expanded a revised 0.8 per cent in the first quarter from three months earlier, the slowest quarterly growth since the fourth quarter of 2006, as facility investment dipped amid slowing domestic demand, the central bank said Monday.
The growth of the country's gross domestic product (GDP) in the January-March period decelerated from a 1.6 per cent expansion in the fourth quarter, according to a report by the Bank of Korea (BOK).
Compared with a year earlier, the first-quarter GDP grew 5.8 per cent, more than an advance estimate of a 5.7 per cent gain.
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.
Exports of goods, which account for about 40 per cent of the country's GDP, fell 1.8 per cent on-quarter in the first three months of this year, compared with an estimate of a 1.1 per cent decline, on sluggish shipments of petrochemical goods and machinery.
Private spending, one of the main growth engines of the South Korean economy, advanced 0.4 per cent from the preceding quarter, down from an earlier estimate of a 0.6 per cent gain.
Facility investment dipped 0.4 per cent, compared with an earlier estimate of a 0.1 per cent fall while construction investment fell 1.4 per cent, larger than an estimate of a 1 per cent contraction.
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Source: HighBeam Research, SOUTH KOREAN ECONOMY GROWS 0.8 PCT IN Q1.