Economy

xchrom

(108,903 posts)

26. South Korea lowers its growth forecast

Thu Dec 27, 2012, 09:20 AM

Dec 2012

http://www.bbc.co.uk/news/business-20849285

South Korea has cut its growth forecast for this year and for 2013, underlining the effect of a slowdown in its key export markets on its growth.

The finance ministry has forecast a growth of 3% for 2013, down from its earlier projection of 4.3%.

Meanwhile, the growth forecast for 2012 was lowered to 2.1% from 3.3%.

South Korea's exports, which account for almost half of its overall economy, have been hit by slowing demand from markets such as the US and eurozone.

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