South Korean Economy Slows - WAOW - Newsline 9, Wausau News, Weather, Sports

South Korean Economy Slows

SEOUL, South Korea (AP) -- South Korea's central bank says the country's economic growth slowed in the second quarter amid weaker exports, manufacturing and services.

The Bank of Korea announced Wednesday that gross domestic product expanded 0.8 percent in the three months ended June 30. The economy had grown 1.3 percent in the first quarter.

Growth rates for exports, manufacturing and services all slowed in the second quarter.

South Korea's economy is Asia's fourth largest and has now grown for 10 straight quarters after contracting in late 2008 amid the global financial crisis.

GDP grew 3.4 percent in the second quarter from the same period last year. It grew 4.2 percent in the first quarter.

The second-quarter figures are preliminary and may be revised.

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