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S Korea’s economic growth hits 8-year peak

South Korea’s economic growth in the final quarter of last year slowed slightly from the prior three months but accelerated from the year-earlier period, bringing the full-year growth rate to the highest in eight years, which will likely add to rising inflation pressures.

Gross domestic product in the three months through December rose a seasonally adjusted 0.5 percent from the previous quarter, revised growth data from the Bank of Korea showed on Wednesday. In the third quarter, GDP sequentially grew 0.6 percent.

From a year earlier, the economy grew a revised 4.7 percent in the fourth quarter, accelerating from a 4.4 percent rise in the third quarter.

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(Source: The Wall Street Journal Online)