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S. Korea's Economy Expands 0.6% in Q2

Written: 2018-09-04 09:40:31Updated: 2018-09-05 10:35:49

Photo : YONHAP News

South Korea's economy saw growth of point-six percent in the second quarter, slightly lower than an earlier estimate. 

According to preliminary data released by the Bank of Korea on Tuesday, the nation’s real gross domestic product for the second quarter expanded point-six percent to some 397-point-96 trillion won.

The growth is down point-four percentage point from the growth posted in the first quarter. 

Both private consumption and government spending climbed just point-three percent in the second quarter while construction investment posted negative growth of two-point-one percent due to a drop in construction of residential buildings and engineering construction. 

Exports grew point-four percent while imports saw growth of minus three percent, or the lowest since the third quarter of 2011.

The nation's real gross national income slipped one percent in the April-June period amid worsened trade conditions resulting from a rise in global oil prices.

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