Korea logs faster-than-expected GDP growth in Q2 on exports, consumption: BOK

Korea's economy grew faster than earlier estimated in the second quarter driven by strong exports and improved private consumption, central bank data showed Wednesday. The country's real gross domestic product (GDP) — a key measure of economic growth — increased by 0.7 percent in the April–June period compared with the previous quarter, 0.1 percentage point higher than the earlier forecast, according to preliminary data from the Bank of Korea (BOK). "The revision came as some actual performance data from the final month of the quarter was incorporated, showing stronger-than-expected exports, construction investment and intellectual property product investment, while facility investment was revised downward," the BOK said in a statement. The second-quarter growth rate marks the highest since the first quarter of 2024, when GDP expanded by 1.2 percent. On a year-on-year basis, the economy expanded 0.6 percent in the second quarter, which is also 0.1 percentage point higher than the earlier estimate. The second-quarter growth marked a rebound from a 0.2 percent contraction in the firstWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times