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the korean economy is widely believed to be moving into a phase of stable
recovery. the central bank says the private sector is
waking up from years of slumber
to drive growth. our hwang ji-hye has the details. the bank
of korea said on thursday the
economy showed firm signs of picking up steam in the quarter ending in
december. the nation's gross domestic product grew 0-
point-9 percent in the fourth
quarter from the previous three months thanks mainly to a rise in domestic
demand. it was slightly down from a 1-point-1 percent
quarter-on-quarter gain in the
july-to-september period but that was largely because of a major cutback in
fiscal spending. the central bank also confirmed that the economy
grew 2-point-8 percent
for all of 2013 from the previous year... as earlier projected.
that compares with a two percent growth in 2012 and represented a
reversal of a two-year slowdown. the bank said... that the recovery came from
rising exports growing private
consumption and construction investment. exports rose 4-point-3 percent last year from
a year earlier... while private
consumption went up 1-point-9 percent from 2012.
construction investment in particular rose nearly seven percent last year...
against a two percent drop in 2012. the central bank said... the korean economy
will likely continue its
recovery... and forecast a growth of 3-point -8 percent for 2014... and four
percent for 2015. hwang ji-hye arirang news.