South Korea Annual GDP Growth Beats Expectations in Q2
The South Korean economy expanded 3.2 percent year-on-year in the three months to June of 2016, higher than a 2.8 percent expansion in the first three months of the year. Figures beat market expectations of a 2.9 percent growth, reaching the highest in six quarters, preliminary figures showed.
7/26/2016 1:02:19 AM
Private spending (up 3.2 percent from 2.2 percent in Q1), and gross fixed capital formation (5.1 percent from 3 percent in Q1) rose at a faster pace while public expenditure increased less (3.7 percent from 4.5 percent in Q1).
Exports went up 1.7 percent (0.7 percent in Q1) and imports grew 3.1 percent (1.9 percent in Q1).
On a seasonally adjusted basis, the GDP advanced 0.7 percent on quarter, accelerating slightly from a 0.5 percent growth in the previous period and in line with market expectations.