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South Korea's economy perks up in first quarter

South Korea's economy picks up momentum in the first quarter due to increased consumer spending, the central bank saysSouth Korea’s economy picked up momentum in the first quarter due to increased construction and consumer spending, the central bank said Thursday. The economy grew 0.8 percent on-quarter in the January-March period, up from a revised 0.3 percent growth in the previous quarter, the Bank of Korea said. From a year earlier, the fourth-largest Asian economy expanded 2.4 percent.

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