SEOUL- South Korea’s economy expanded by a seasonally adjusted 1.7 percent in the first quarter, revised central bank data showed on Wednesday, a notch above the 1.6 percent growth estimated in late April.
Towing the growth were private consumption and facilities investment that grew 1.2 percent and 6.1 percent quarter-on-quarter, respectively. First-quarter growth for facilities investment was the sharpest in nine years.
Construction investment was sharply revised up to 1.3 percent growth, from a 0.4 percent gain estimated earlier, while exports jumped 2.0 percent, better than a 1.9 percent rise reported earlier.
From a year earlier, the economy grew a revised 1.9 percent during the period, better than the 1.8 percent expansion seen previously. — Reuters
