South Korea GDP Expands 0.4% In Q2

South Koreas economy expanded 0.4% during the April-June quarter, for a rise of 2.4% from a year earlier, according to reported government data Thursday.

That was slightly below expectations for an increase of 0.5 percent following the 0.9 percent in the first quarter.

On the expenditure side, private consumption rose 0.5 percent, as that of durables such as automobiles, and of semi-durables such as clothing and footwear increased, the bank noted. Facilities investment dropped 6.4 percent, centering on machinery such as communications and broadcasting equipment. Construction investment rose by 0.3 percent, as civil engineering expanded.

Exports shed 0.6 percent and imports 1.7 percent, centering on exports of petrochemical products and steel and imports of general machinery, the data showed.

On the production side, manufacturing eased 0.1 percent as items such as metal products and electric and electronic equipment were lackluster, offsetting an increase of transport equipment, the bank said.

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