S. Korea's economy grows 1.6% in first quarter

Economy Society

South Korea's economy expanded 1.6 percent in the first three months of this year from the previous quarter, marking the third consecutive quarter of growth, the Bank of Korea said Tuesday. Seasonally adjusted real gross domestic product grew faster than expected as exports and fiscal spending by the government pushed the pace of growth closer to pre-pandemic levels, according to the nation's central bank. Asia's fourth-largest economy had grown 1.3 percent in the October-December 2019 period just before the coronavirus pandemic. Between January and March this year, exports grew 1.9 percent, w...

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