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S Korea GDP picks up but doubts remain about future

South Korea’s quarterly economic growth hit a one-year high in the first three months on increased budget spending and as exports rebounded, but the uneven global recovery kept the outlook far from clear.

Asia’s fourth largest economy grew a seasonally adjusted 0.9 percent in the first quarter from the previous quarter, up from a 0.3 percent gain in the final quarter of 2011 and matching the market’s consensus view, central bank data showed on Thursday.

Private consumption, government spending and capital investment all posted healthy growth, turning around after suffering quarterly losses in the final three months of 2011, the Bank of Korea’s advance estimates showed.

(Source: CNBC)