S. Korea's economy contracts 0.2 percent in second quarter

Health Minister Chairs Expanded Meeting to Prepare for Health Summit and Health Fund Committee

Minister of Public Health and Population, Dr. Qasim Buhaybeh, chaired an expanded meeting of the preparatory committee for the upcoming Health Summit and the Health Fund Committee in Aden.

Bulgarian Tourist Union to Celebrate 130 Years of Organized Tourism in Bulgaria

The Bulgarian Tourist Union (BTU) will organize a hike for hundreds of mountain lovers, starting from the Ivan Vazov National Theatre to Mt. Cherni Vrah, to celebrate 130 years of organized tourism in Bulgaria.

Austrian central bank expects 0.3 percent growth in 2025

The Austrian Central Bank expects the local economy to record a slight growth in GDP of 0.3 percent for the current year 2025, thus avoiding entering a third year of recession, following stronger than expected economic performance in the first half of the year.

Leeds United beat Everton in English Premier League

Leeds United beat Everton 1-0 at Elland Road in the final round of the English Premier League.

Last Update: ، 2025/09/14 Time 12:59:45
Latest News:

Yemeni Rights Groups Sharpen Skills in Uganda

Minister of Water and Environment Discusses Climate Change Partnership with UNHCR

Yemen discusses with the Arab Mining Organization support for industrial development

UN Security Council Reaffirms Commitment to Yemen’s Unity and Sovereignty

Ambassador Al-Sunaini Meets Japan's Special Envoy for Peace and Stability

S. Korea's economy contracts 0.2 percent in second quarter

[25/07/2024 11:50]

SEOUL-SABA
South Korea's economy retreated in the second quarter of the year as weaker domestic demand clouded recovery prospects, despite robust exports, S. Korean News Agency (Yonhap) reported.

The country's real gross domestic product -- a key measure of economic growth -- contracted 0.2 percent on-quarter in the April-June period, according to preliminary data from the Bank of Korea (BOK).

The second-quarter figure compares with the 1.3 percent on-quarter expansion in the January-March period, which marked the highest since the fourth quarter in 2021, when the economy expanded 1.4 percent.

On a yearly basis, South Korea's economy advanced 2.3 percent in the second quarter, slowing from 3.3 percent growth for the first quarter of the year.

Earlier this month, the central bank held its key interest rate steady at 3.5 percent for the 12th straight time amid moderating inflation and high household debt, according to Yonhap.