South Korea GDP Growth Accelerates

In the first quarter of 2014, the South Korean economy advanced 3.9 percent year-on-year, accelerating from a 3.7 percent expansion in the previous quarter and matching the advance estimate.
The Bank of Korea | Isabel Felino | Isabel.felino@tradingeconomics.com 6/5/2014 2:01:40 PM
Final estimates showed private consumption rose 2.5 percent, down from an advance estimate of 3.6 percent. Gross fixed capital formation grew at a slower pace compared with the preliminary result (5.9 percent versus 6.2 percent). Exports advanced 4.5 percent, slightly down from an initial 4.6 percent estimate and imports expanded at a slower 3.5 percent.

In contrast, government consumption grew at a faster 2.9 percent, compared with an initial estimate of 2.7 percent.

On a quarter-on-quarter basis, the economy advanced 0.9 percent in the first three months of 2014, the same rate recorded in the previous period.

South Korea GDP Growth Accelerates