SKorean economy grows 2.3 percent in Q2

SEOUL (AFP) - - Surging exports and consumer spending fuelled growth of 2.3 percent for South Korea's economy in the three months to June, its fastest rate in more than five years, data showed Friday.

The quarter-on-quarter growth in gross domestic product (GDP) was up sharply from the first quarter's slender gain of 0.1 percent, the central Bank of Korea said.

"Exports of goods sharply rebounded and consumer spending picked up in the second quarter," it said in a statement.

It marked the fastest growth of GDP for Asia's fourth-largest economy since a 2.6 percent increase in the fourth quarter of 2003.

But compared with a year earlier, the economy shrank 2.5 percent.