^

Business

South Korea's growth slowest in more than 2 years

Associated Press
July 22, 2015 | 9:42pm

SEOUL, South Korea  — South Korea's quarterly growth slowed to the lowest in more than two years as a severe drought hit agriculture and an outbreak of Middle East respiratory syndrome sapped consumption.

The Bank of Korea said Thursday that South Korea's economy expanded 2.2 percent in the second quarter over a year earlier. That's the lowest since the first quarter of 2013.

Asia's fourth-largest economy eked out 0.3 percent growth from the previous quarter.

The bank said private consumption turned negative and agricultural output plunged.

Other areas of the economy including exports and private investment were also weak.

vuukle comment

BANK

BANK OF KOREA

CONSUMPTION

ECONOMY

GROWTH

KOREA

LOWEST

MIDDLE EAST

QUARTER

SOUTH

SOUTH KOREA
Philstar
x
  • Latest
  • Trending
Trending
Latest
Trending
abtest
abtest

New normal, new solutions

By Joe Zaldarriaga | 19 hours ago
Typhoon Marce (international name Yinxing) has entered the Philippine Area of Responsibility and is projected to follow a similar path as Typhoons Leon (Kong-Rey) and Kristine (Trami). The state weather bureau, PAGASA,...
Business
fbtw
Looming Trump victory rattles Philippine investors

Looming Trump victory rattles Philippine investors

By Elijah Felice Rosales | 19 hours ago
Investors have sent a clear message of wariness about the impact of a second Trump presidency, going on a selloff spree on...
Business
fbtw
Office vacancy rate hits 20-year high

Office vacancy rate hits 20-year high

19 hours ago
Metro Manila’s office vacancy rate in the third quarter hit its highest level in 20 years as firms streamlined office...
Business
fbtw
Jobless Pinoys down to 1.89 million in September

Jobless Pinoys down to 1.89 million in September

By Louella Desiderio | 19 hours ago
The country’s unemployment rate dropped in September, but the quality of jobs deteriorated, according to the Philippine...
Business
fbtw
‘BSP may pause rate cuts amid peso weakness’

‘BSP may pause rate cuts amid peso weakness’

By Keisha Ta-Asan | 19 hours ago
The Bangko Sentral ng Pilipinas may opt for a temporary pause in cutting borrowing costs next month if the Philippine peso...
Business
fbtw
Latest
abtest
LIST: Flights canceled on November 7 due to 'Marce'

LIST: Flights canceled on November 7 due to 'Marce'

10 hours ago
A number of domestic flights have been canceled on Thursday, November 7, due to the inclement weather brought...
Business
fbtw
$5.09 billion trade deficit widest in 20 months

$5.09 billion trade deficit widest in 20 months

By Louella Desiderio | 19 hours ago
The Philippines recorded a $5.09-billion trade gap in September, the largest in 20 months, as exports declined while imports...
Business
fbtw
Q2 GDP growth revised upward

Q2 GDP growth revised upward

By Louella Desiderio | 19 hours ago
The Philippine economy expanded at a slightly faster rate than initially reported in the second quarter, according to the...
Business
fbtw
Pag-IBIG assets reach P1 trillion mark

Pag-IBIG assets reach P1 trillion mark

By Louise Maureen Simeon | 19 hours ago
The assets of the Home Development Mutual Fund, commonly known as the Pag-IBIG Fund, have breached the P1-trillion level due...
Business
fbtw
BIR collects P1 billion from vape stamps

BIR collects P1 billion from vape stamps

By Louise Maureen Simeon | 19 hours ago
he Bureau of Internal Revenue has collected about P1 billion from the imposition of excise stamps on vape products but the...
Business
fbtw
Recommended
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with