Fourth Quarter and Growth Rate

gross domestic product: After bottoming at 0.3 percent in the fourth quarter of 2014, the growth rate turned upward at a peak of 1.2 percent in the third quarter of 2015, before falling again to 0.7 percent in the fourth quarter of last year and 0.4 percent in the first quarter of this year, according to Xinhua China. From a year earlier, the real GDP increased 2.7 percent in the first quarter. Real gross domestic product reached 371.85 trillion won during the January-March period, up 0.4 percent from the previous three-month period, according to the Bank of Korea . The first-quarter growth was the lowest since the second quarter of 2015 when the real GDP rose at an identical rate of 0.4 percent due to negative impacts from the Middle East Respiratory Syndrome outbreak. Gross domestic income picked up 2.8 percent on a yearly basis. Last week, the BOK revised down its 2016 growth forecast for the economy from 3.0 percent to 2.8 percent on concerns about economic uncertainties at home and abroad. The slowing first-quarter growth was attributable to both sagging exports and lackluster private consumption. (news.financializer.com). As reported in the news.