South Korea Q1 GDP growth revised up to 1.1% q-o-q on construction boost

[SEOUL] South Korea's economy grew a seasonally adjusted 1.1 per cent during the first three months of this year from the previous quarter, revised central bank data showed on Friday, above an earlier estimate of 0.9 per cent.

The upward revision owed mostly to the construction sector, which grew by 5.3 per cent from three months earlier, faster than an initially estimated 4 per cent expansion.

From a year earlier, South Korea's economy grew 2.9 per cent in the January-March period, the Bank of Korea data showed, also slightly above the advanced estimate of 2.7 per cent released in April.

REUTERS