S. Korea's economic growth hits 5-year high in Q3

SEOUL, Oct. 23 (Yonhap) -- South Korea's economic growth reached a five-year high in the third quarter thanks to a strong rebound in domestic demand, central bank data showed Friday. The economy grew 1.2 percent on-quarter in the July-September period, the first time in five quarters that growth exceeded the 1 percent mark, according to the preliminary data by the Bank of Korea (BOK). This is the highest reading since 1.7 percent growth tallied in the second quarter of 2010. Consumer spending has rebounded as the impact of the Middle East Respiratory Syndrome (MERS) outbreak has receded, the central bank said. The preliminary numbers are also higher than the 1.1 percent growth predicted by the BOK for the third quarter in July. yonngong@yna.co.kr (END)