S. Korea's economy grows 1.4% in 1st quarter

SEOUL: South Korea's economic growth rate accelerated sharply in the first quarter of this year on strength in exports, manufacturing and consumer spending, the central bank announced Wednesday.

Gross domestic product expanded 1.4 percent in the three months ended March 31, the Bank of Korea said. That compares with growth of 0.5 percent in the final three months of last year. The figure narrowly missed the bank's own forecast of a 1.5 percent expansion.