SEOUL: South Korea's economy grew 0.7 percent in April-June over the previous quarter, the central bank estimated on Tuesday, accelerating modestly from the previous three-month period as domestic consumption and capex improved.
It follows 0.5 percent growth for the first quarter.
It was in line with a median 0.7 percent gain tipped in a Reuters survey of 18 analysts on a seasonally adjusted basis.
The Bank of Korea estimates showed private consumption rose by a seasonally adjusted 0.9 percent in the second quarter after slipping 0.2 percent in the January-March period. Capital investment notched a 2.9 percent gain after a 7.4 percent drop.
The economy expanded 3.2 percent in the June quarter from a year earlier, outperforming a median 2.9 percent forecast in the Reuters poll and 2.8 percent growth in the first quarter.
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