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S. Korean economy grows 1.1 pct on-quarter in Q1: BOK

All News 08:00 June 02, 2017

SEOUL, June 2 (Yonhap) -- South Korea's economy grew at a faster-than-expected pace in the first quarter from three months earlier on increased exports, construction and facility investments, central bank data showed Friday.

The country's gross domestic product (GDP) expanded 1.1 percent in the January-March period from the previous quarter, accelerating from a 0.5 percent on-quarter expansion three month earlier, according to preliminary data from the Bank of Korea (BOK).

The latest reading marks a slight increase from an earlier estimate of a 0.9 percent expansion in late April.

From a year earlier, the local economy grew 2.9 percent in the first quarter, compared with a 2.4 percent on-year expansion in the previous quarter.


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