Arab Today, arab today south korea\s q1 growth down to 08
Last Updated : GMT 23:18:29
Arab Today, arab today
Arab Today, arab today

South Korea\'s Q1 growth down to 0.8%

Arab Today, arab today

Arab Today, arab today South Korea\'s Q1 growth down to 0.8%

?Seoul - QNA

The South Korean economy grew slower than earlier forecast in the first quarter as consumer spending remained subdued and export growth slowed amid the yen\'s slide to the won, the central bank said. Korea\'s gross domestic product (GDP), the broadest measure of economic performance, grew a revised 0.8 percent in the January-March period from three months earlier, down from a previous estimate of 0.9 percent on-quarter expansion, according to the Bank of Korea (BOK). The first-quarter reading marked the fastest growth since the first quarter of 2012 and quickened from 0.3 percent on-quarter growth in the fourth quarter. The GDP advanced 1.5 percent on-year in the first quarter, the same pace as earlier estimated. The government is ramping up efforts to bolster the economy, which the yen\'s slide threatens to weigh on. The yen has depreciated more than 14 percent per the U.S. dollar so far this year, putting Korean exports at a disadvantage in pricing in overseas markets. The won has advanced some 11 percent against the yen so far this year. The government, which has drawn up an extra budget of 17.3 trillion won (US$15.5 billion), forecast the Korean economy to grow 2.3 percent this year. The BOK\'s 2013 growth estimate stood at 2.6 percent, the state-run (Yonhap) news agency reported. In May, the BOK surprised the market by making the first rate cut in seven months, a move aimed at lending support to the government\'s drive for the economic stimulus. The central bank lowered the borrowing costs in July and October last year. Exports, which account for about 50 percent of the economy, grew 3 percent on-quarter in the first quarter, less than its earlier estimate of 3.2 percent. But the first-quarter data was compared with a 1.1 percent contraction in the fourth quarter. Domestic demand fell 0.4 percent last quarter, compared with a previous estimate of a 0.3 percent contraction, according to the central bank. Facility investment gained 2.6 percent, down from an earlier estimate of 3 percent growth. Construction investment grew 4.1 percent, higher than the previous estimate of a 2.5 percent gain. Meanwhile, the gross national income (GNI), a gauge of purchasing power of the population, rose 0.8 percent on-quarter in the first quarter, picking up from 0.3 percent in the previous quarter and the fastest growth in three quarters, it said. Korea\'s trade terms improved last quarter as import costs fell at a sharper pace than export prices, the central bank said.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south korea\s q1 growth down to 08 Arab Today, arab today south korea\s q1 growth down to 08

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday