South Korean GDP expanded a seasonally adjusted 0.9 percent on quarter in the first three months of 2014, the same rate recorded in the previous quarter and above market expectations.
On the expenditure side, private consumption expanded by 0.3 percent as expenditures on durables such as automobiles and on services increased.
Construction investment grew by 4.8 percent, due to growth in residential building construction.
Facilities investment fell by 1.3 percent, despite an increase in transport equipment investment, as machinery investment dropped.
Intellectual property products investment rose by 7.5 percent, centering around private sector R&D investment.
Exports grew by 1.7 percent, with increases in exports of electrical & electronic devices and petrochemical products. However, imports fell by 0.5 percent due to decreases in imports of machinery and chemical products.
4/24/2014 12:15:53 AM