^

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
Most Asian markets rise ahead of US vote, China stimulus meeting

Most Asian markets rise ahead of US vote, China stimulus meeting

20 hours ago
Most Asian markets rose Monday as investors steel themselves for a too-close-to-call US presidential election, while Chinese...
Business
fbtw
SM feted for contributions in China’s property market

SM feted for contributions in China’s property market

By Richmond Mercurio | 11 hours ago
SM China, a subsidiary of SM Prime Holdings Inc., has made it to the GuanDian Index Research Institute’s “Performance...
Business
fbtw

Watsons Philippines opening 90 new stores in 2025

By Louella Desiderio | 11 hours ago
Health and beauty retailer Watsons Philippines is further expanding its footprint in the country by opening 90 new stores next year.
Business
fbtw
Deadline nears for firms’ enhanced compliance plan

Deadline nears for firms’ enhanced compliance plan

By Richmond Mercurio | 11 hours ago
The Securities and Exchange Commission is urging non-compliant, suspended and revoked corporations to clear their records...
Business
fbtw
T-bill rates increase for 5th straight week

T-bill rates increase for 5th straight week

By Louise Maureen Simeon | 11 hours ago
The government managed to borrow P20 billion in short-term securities even after rates moved upward for the fifth straight...
Business
fbtw
Latest
abtest
Stocks down ahead of US elections

Stocks down ahead of US elections

By Richmond Mercurio | 11 hours ago
Share prices opened the week in the red as investors were on a wait-and-see stance ahead of the upcoming US presidential...
Business
fbtw
NGCP extends tie up with DepEd

NGCP extends tie up with DepEd

By Brix Lelis | 11 hours ago
The National Grid Corp. of the Philippines has renewed its decade-long partnership with the Department of Education to provide...
Business
fbtw

Tourism by VAT refund

By Anne Christelle Santiago | 11 hours ago
In a report made by the World Economic Forum in May 2024, it is expected that the global tourism industry will continue recovering from the lows of the COVID-19 pandemic and surpass pre-pandemic levels due to demand...
Business
fbtw
Ang trumpets SMC’s gains in sustainability, environment

Ang trumpets SMC’s gains in sustainability, environment

By Richmond Mercurio | 11 hours ago
The investments of conglomerate San Miguel Corp. for the environment are bearing fruits, making its chairman and CEO Ramon...
Business
fbtw

Changing acronyms for a dynamic meaning

By Rey Elbo | 11 hours ago
We’re certainly familiar with acronyms, at least those that pertain to our job, profession and interests.
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