South Korea’s Q1 GDP growth revised slightly down to 0.6%

SOUTH Korea’s economy grew by a seasonally adjusted 0.6 per cent in the first quarter from three months earlier, slightly lower than 0.7 per cent growth estimated earlier, revised central bank data showed on Wednesday. The country’s gross domestic product expanded by 3.0 per cent during the January-March period over a year earlier, also slightly down from a 3.1 per cent gain tipped in advanced estimates, the Bank of Korea data showed. The downward revision follows an upward adjustment by the central bank in the economic growth for the final quarter of 2021 to 1.3 per cent on-quarter from 1.2 per cent announced previously. For the whole of 2021, Asia’s fourth-largest economy grew a revised 4.1 per cent, the fastest in 11 years and up from the previously announced 4.0 per cent, the central bank said. REUTERS