South Korea posts fastest growth in nearly 3 years

South Korea recorded its fastest growth since the first quarter of 2011, its central bank said Thursday, showing a recovery in Asia's fourth-largest economy is on track.


The Bank of Korea said preliminary data showed that the economy expanded by 3.9 percent in the final quarter of 2013 over a year earlier, accelerating from the third quarter's 3.3 percent. The growth was thanks to an increase in capital expenditure and exports.


From the previous quarter, the country's gross domestic product increased 0.9 percent, slowing from the previous two quarters when it expanded 1.1 percent. (AP)