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Economics

South Korea’s Growth Rate Retreats From a Five-Year High

  • Fourth-quarter GDP rose 0.7% after 1.2% jump in third quarter
  • Korea's 2015 economic expansion was the slowest since 2012
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Revised gross domestic product data released Friday confirmed that South Korea’s economic growth rate slipped from a five-year high in the fourth quarter as a surge in property transactions faded in the final three months of 2015.

GDP rose 0.7 percent in the fourth quarter from the previous three months, when it jumped by 1.2 percent, according to data released by the Bank of Korea. The economy expanded 2.6 percent in 2015 from a year earlier, the slowest pace since 2012.