SEOUL, South Korea (AP) — South Korea, Asia’s fourth-largest economy, grew at the fastest clip in nearly a year thanks to recovery in exports, the central bank said Thursday, despite a backlash from Chinese consumers over the deployment of a U. S. missile defense system.
SEOUL, South Korea (AP) — South Korea, Asia’s fourth-largest economy, grew at the fastest clip in nearly a year thanks to recovery in exports, the central bank said Thursday, despite a backlash from Chinese consumers over the deployment of a U. S. missile defense system.
The economy expanded 2.7 percent during the January-March period over a year earlier, higher than the 2.4 percent growth during the previous quarter and the strongest since the second quarter, Bank of Korea said in its preliminary results.
On a quarterly basis, South Korea’s economy grew 0.9 percent, after posting 0.5 percent quarterly growth in the last two quarters.
The bank said the result, slightly higher than expectations, was thanks to recovery in exports.
