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Biz News Korea(Eng)
Korea’s Q4 GDP growth at 0.4%, slowest since Q2 2015
- Collected
- 2017.01.25
- Distributed
- 2017.01.31
- Source
- Go Direct
According to the Bank of Korea’s preliminary data Wednesday, the country’s GDP grew 0.4 percent the final three months of 2016, slower than 0.6 percent growth in the previous quarter. It was the slowest pace since the second quarter of 2015. The economy ran under 1 percent quarterly for a year.
Against a year-ago period, the Korean economy grew 2.3 percent in the fourth quarter, compared with 2.6 percent in the third.
For the whole of 2016, the nation’s economy expanded 2.7 percent from a year earlier, matching the central bank’s projection. Exports rose 1.4 percent and imports 3.0 percent from a year ago.
The central bank expects this year’s growth to further slow to 2.5 percent.
By Boo Jang-won
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]