South Korean economy grows 2.5% in first quarter, beats estimates

  • 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%.

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