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Business News for Tuesday January 6, 2009
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South Korea's economic growth slows
Friday April 25, 2008
The Bank of Korea says South Korea's economic growth slowed during the first three months of this year.
The central bank announced Friday that gross domestic product grew 0.7 percent in the first quarter from the previous three months. That was well below the 1.6 percent growth recorded in the final three months of last year. The result was also worse than analyst expectations. The average forecast of seven economists surveyed by Dow Jones Newswires predicted that the economy grew 1 percent. GDP grew 5.7 percent in the first quarter from the same period last year, when it expanded 4 percent, according to the bank.
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