South Korea's economy grew 0.7 percent in April-June over the previous quarter, the central bank estimated on Tuesday, accelerating modestly from the previous three-month period as domestic consumption and capex improved.
It follows 0.5 percent growth for the first quarter. It was in line with a median 0.7 percent gain on a seasonally adjusted basis tipped in a Reuters survey of 18 analysts.
It matched a 0.7 percent growth in the fourth quarter of last year on a sequential basis.
The economy expanded 3.2 percent in the June quarter from a year earlier, outperforming a median 2.9 percent forecast in the Reuters poll and 2.8 percent growth in the first quarter. It was the fastest annual growth since the third quarter of 2014.
Tuesday's data offered some hope as Asia's fourth-largest economy struggles to escape low growth. Exports have kept falling since January last year while domestic consumption has also shown signs of weakening.
"Growth at 0.7 percent comes as a relief but construction will probably slow from now on. GDP growth in annual terms is likely to ease to the 2-percent range in the third and fourth quarters," said Park Jung-woo, an economist at Korea Investment and Securities.