(MENAFN) Data showed that South Korea's economy slowed in the second quarter due to the outbreak of the Middle East Respiratory Syndrome (MERS), weak exports and drought, Xinhua reported.
Real gross domestic product (GDP) expanded 0.3 percent during the April-June period compared with the prior three-month period. The economy recorded a zero- percent growth for five straight quarters.
It was lower than 0.4 percent, which the the Bank of Korea (BOK) suggested as its estimate last month. The bank froze the benchmark interest rate at an all-time low of 1.5 percent in July.
The BOK revised down its 2015 growth outlook for the economy by 0.3 percentage points to 2.8 percent in June on the back of the MERS outbreak.
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