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  • S. Korean Economy Expands 0.8 pct in 2nd Quarter
  • Source:Xinhua  Date:September-05-2008  Editor:CMO   
  • The South Korea's gross domestic product (GDP) gained 0.8 percent in the second quarter from the three months earlier, the country's central bank said Friday.

    Exports of goods, which account for approximately 40 percent of the GDP, gained 4.3 percent in the April-June period, according to the Bank of Korea (BOK).

    Private spending dropped 0.2 percent from the previous quarter, declining for the first time since the second quarter of 2004, the BOK said.

    Facility investment gained 0.9 percent while construction investment fell 1 percent, the BOK added.

    Meanwhile, the country's real gross national income (GNI), reflecting the actual purchasing power of the population, gained 1. 2 percent, compared with a 1.2 percent fall in the first quarter, reflecting the improvement in terms of trade.
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