South Korea's economic growth continued to slow in the first quarter on sagging exports and sluggish consumption, central bank data showed Tuesday.
In the three months ended March 31, the country's gross domestic product (GDP) grew 0.4 percent from the previous quarter, according to preliminary data from the Bank of Korea (BOK).
The Q1 estimate marks a slowdown from a 0.7 percent on-quarter expansion in the previous quarter. From a year earlier, it marks a 2.7 percent growth.
The Q1 reading also came a week after the BOK slashed its growth outlook for 2016 to 2.8 percent from 3.0 percent forecast three months earlier. (Yonhap)