South Korea's economy grew 0.8 percent in 2nd quarter led by exports, manufacturing

South Korea's economy expanded 0.8 percent in the second quarter compared with the previous three months, the Bank of Korea said Friday, boosted by gains in exports and manufacturing.

Private consumption, which is mostly consumer spending and accounts for about half the economy, was a drag on growth, declining 0.1 percent. Expansion was also suppressed by a 2.4 percent contraction in the construction sector.

Gross domestic product during the three months through June grew at the same level seen during the previous quarter, the central bank said in a statement.

Citi economist Oh Suk-tae said the 0.8 percent quarterly growth equates to an …