The Bank of Korea said Thursday that South Korea’s economy grew at a 2.7 percent annual pace during the April-June quarter as gains in capital expenditures and consumer spending offset lower exports.
The central bank said in a preliminary reading that Asia’s fourth-largest economy saw lower exports but a big jump in capital spending and improved consumer spending supported growth. The economy grew 2.9 percent in the previous quarter.
On a quarterly basis, the economy grew 0.6 percent from the January-March period.
