South Korea GDP Growth at 2-Year Low in Q2


The South Korean economy advanced 2.2 percent year-on-year in the second quarter of 2015, the lowest growth rate since the first three months of 2013 as exports plunged, advance estimates from the central bank showed.

Exports shrank 0.9 percent year-on-year in the three months to June, after a 0.1 percent increase in the previous period and imports grew at a slower 1.1 percent (1.9 percent in the first quarter).

Facilities investment expanded less than in the first quarter (4.8 percent compared to 5.8 percent) while construction investment rose at a faster 1.7 percent (compared to 0.6 percent).

Private consumption rose 1.6 percent (compared to 1.5 percent in the first quarter) and public spending advanced 3.3 percent (compared to 3.1 percent in the first quarter).

On a seasonally adjusted basis, the economy expanded 0.3 percent on quarter in the second quarter of 2015, much lower than 0.8 percent in the first three months of the year.

South Korea GDP Growth at 2-Year Low in Q2


Bank of Korea | Joana Taborda | joana.taborda@tradingeconomics.com
7/23/2015 9:50:36 AM