Korea revised data shows on-quarter growth

South Korea posted a revised first-quarter economic growth of 0.1 percent from the previous quarter, matching the initial reading, according to Bank of Korea data released Friday. On year, the gross domestic product shrank 4.2 percent, an upward revision from the 4.3 percent contraction originally reported. The data confirmed that South Korea avoided a second-straight quarter of declining GDP — a popular technical definition of a recession — with the economy having contracted 5.1 percent in the fourth quarter of 2008.

http://www.foxbusiness.com/story/south-korea-revised-data-shows-quarter-growth/

 

Category: Korea