Off the wire
• Indian stocks open higher  • Multinational operation smashes firearm smuggling ring in Australia  • (G20 Summit) Commentary: Time for global governance reform to catch up  • China Focus: Reconstructing the global value chain -- a vision for the G20 summit  • Wilson Security to pull out of Aussie offshore detention centres  • UN Security Council voices "deep concern" on post-poll violence in Gabon  • Tokyo shares slightly higher by break following halt of yen's depreciation  • Australian film industry in dire straits due to funding cuts  • (G20 Summit) Interview: G20 summit to inject fresh impetus into global policy coordination: Standard Chartered CEO  • Brazil's Jesus scores twice on debut to sink Ecuador in WC qualifier (updated)  
You are here: 　 Home

S.Korea's Q2 GDP posts highest growth in 3 quarters

Xinhua, September 2, 2016 Adjust font size:

South Korea's second-quarter gross domestic product (GDP) posted the highest growth in three quarters, central bank data showed on Friday.

Seasonally adjusted GDP reached 375.33 trillion won (335.7 billion U.S. dollars) in the April-June period, up 0.8 percent from the previous three-month period, according to the Bank of Korea (BOK).

It was up from a 0.5 percent expansion in the first quarter, marking the highest growth since 1.2 percent tallied in the third quarter of last year.

The growth rate, however, stayed below 1 percent for three straight quarters, bolstering worries about delayed recovery amid uncertainties at home and abroad.

Production among manufacturers rose 1.2 percent in the second quarter from three months earlier as output of mining, chemical and oil products increased on a slight rebound in crude oil prices.

Construction production gained 1.0 percent in the second quarter, lower than a 4.8 percent expansion in the first quarter. Services industry output grew 0.6 percent in the three months ending June 30.

Private consumption rose 1 percent in the second quarter on the back of a temporary cut in consumption taxes. It was a rebound from a 0.2 percent decline in the first quarter, but worries remained as the rebound came mainly from policy effects.

Investment in the construction sector increased 3.1 percent in the second quarter from the previous quarter, and facility investment expanded 2.8 percent on demand for transport equipment and machinery. Enditem