SEOUL — South Korea’s economy grew in the second quarter by a seasonally adjusted 0.7% from the previous quarter, revised central bank data showed on Thursday, matching the advance estimate released earlier.
That was slightly faster than a 0.6% growth in the first quarter but slower than 1.3% in the last quarter of 2021, according to the Bank of Korea data.
By expenditure, private consumption advanced 2.9%, while construction and facilities investment grew 0.2% and 0.5%, respectively. Exports shrank 3.1%.
The country’s gross domestic product expanded by 2.9% on a year-on-year basis, also unchanged from the earlier estimate. (Reporting by Jihoon Lee; Editing by Christian Schmollinger)