South Korea’s economy grew at a sharply slower in the final quarter of 2014 amid a decline in construction spending, initial estimates from the Bank of Korea show.
Month-on-month the economy expanded a seasonally adjusted 0.4 percent in the three months to December, in line with expectations, but sharply slower than the 0.9 percent expansion in the third quarter.
The economy expanded 2.7 percent on year in the fourth quarter, just below expectations for a 2.8 percent increase in a Reuters poll and down from 3.2 percent in the third quarter.
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