South Korea's Q2 GDP up 0.8% q-o-q, ticks up from earlier estimate

[SEOUL] South Korea's economy grew by a seasonally adjusted 0.8 per cent in the second quarter, revised central bank data showed on Thursday, a notch above the 0.7 per cent growth estimated in late July.

The hike in the growth rate was driven by private consumption and facilities investment, which grew a revised 3.6 per cent and 1.1 per cent quarter-on-quarter, respectively.

Construction investment shrank 2.3 per cent, although this was revised up from a 2.5 per cent contraction estimated earlier, while exports decreased 2.0 per cent, unchanged from an earlier estimate.

From a year earlier, the South Korean economy grew a revised 6.0 per cent during the period, the fastest annual expansion in a decade and higher than the 5.9 per cent expansion reported in preliminary estimates.

REUTERS