S. Korea's second quarter real GDP up 0.7% q/q: Bank of Korea
Updated: 2021-07-27 08:07:29 KST
South Korea posted positive GDP growth during the April-to-June period, thanks to a record high growth in private consumption.
The Bank of Korea said Tuesday that real GDP in the second quarter rose point-seven percent on-quarter.
This marks the South Korean economy's fourth consecutive quarter of growth following the pandemic-linked downturn in the first two quarters of 2020.
Consumption was one of the major drivers of the growthled by rising spending on semi-durable goods, as well as in the service sector.
It spiked three.five percent in the second quarter, the biggest growth in 12 years.