South Korean Economy Grew in Second Quarter

South Korea’s economy grew 0.8 percent in the second quarter, revised data from the Bank of Korea showed on Friday.

    According to the data, the June quarter’s 0.8 percent expansion is marginally better than a 0.7 percent rise estimated earlier by the bank. In annual terms, growth was at 3.3 percent, also slightly above an earlier estimate of 3.2 percent.

    It was up from a 0.5 percent expansion in the first quarter, marking the highest growth since 1.2 percent tallied in the third quarter of last year.

    Construction production gained 1.0 percent in the second quarter, lower than a 4.8 percent expansion in the first quarter. Services industry output grew 0.6 percent in the three months ending June 30.