South Korea’s real gross domestic product (GDP), adjusted for inflation, grew 0.7 percent in the second quarter from the previous quarter, central bank data showed on Tuesday.
It was down from an increase of 1.7 percent in the first quarter, but the real GDP kept rising for the fourth straight quarter, according to the Bank of Korea (BOK).
Private consumption advanced 3.5 percent in the April-June quarter from three months earlier, marking the fastest expansion in 12 years since the second quarter of 2009.
Fiscal spending expanded 3.9 percent in the quarter, with facility investment adding 0.6 percent. Export, which accounts for about half of the South Korean economy, shrank 2.0 percent in the second quarter after going up 2.0 percent in the previous quarter.
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