South Korean economy grows 2.5% in first quarter, beats estimates
June 4 , 2015
South Korea’s economy grew 2.5% in the first quarter of 2015 from a year earlier, slightly exceeding expectations.
The Bank of Korea’s annual growth estimate for the first three months of the year was 2.4%.
Meanwhile, quarter-on-quarter growth in Asia’s fourth-largest economy was 0.8%, as per expectations.
Investment in the construction sector, private consumption, and manufacturing contributed to the growth, experts say.
Figures show that South Korea’s exports were down 10.9% in May compared with a year earlier, and imports fell 15.3%.