ZCZC
BCN-30
S.KOREA-GDP-GROWTH
S. Korea’s Q1 GDP grows 1 pct quarter-over-quarter
SEOUL, June 2, 2018 (BSS/Xinhua) – South Korea’s gross domestic product
(GDP) grew 1 percent in the first quarter from the previous quarter on brisk
exports and facility investment, central bank data showed Friday.
The seasonally-adjusted real GDP amounted to 395.6 (367.7 billion U.S.
dollars) in the January-March quarter, up 1 percent from the previous
quarter, according to the Bank of Korea (BOK).
It was down 0.1 percentage points from the preliminary figure, but it
marked a rebound from a 0.2-percent decline in the fourth quarter of last
year.
It was in line with the BOK’s growth outlook of 3 percent for this year. If
the GDP expands 0.9 percent in the second quarter, it would meet the BOK’s
growth forecast, according to the bank’s analysis.
Exports, which account for about half of the export-driven economy, led the
first-quarter economic expansion.
The outbound shipments advanced 4.4 percent in the first quarter from a
year earlier due to strong global demand for locally-made semiconductors and
machinery. Imports gained 4.9 percent in the quarter.
Facility investment went up 3.4 percent in the March quarter, marking the
highest increase since the second quarter of last year.
BSS/XINHUA/HR/1452