Korea Economic, inflation, GDP outlook for 2012

World Economic outlook - Korea Economic, inflation, GDP outlook for 2012 : The government slashed its growth forecast for this year and next, backing off from its ambitious growth plan due to weakening consumption and persistent risk stemming from slumps in major economies, the Finance Ministry said Monday.

In a downbeat assessment of Asia’s fourth-largest economy, it said the economy will grow 3.7 percent in 2012, down from its 4.5 percent projection in June, the ministry said in its 2012 economy management plan.

OECD predicted Korea economic growth 2012

World Economic outlook - OECD predicted Korea economic growth 2012 - Korea economic growth forecast 2012 : The Organization for Economic Cooperation and Development predicted that Korea's economic growth will slow down to 3.8 percent next year, lowering its previous prediction of 4.5 percent.

In its latest outlook published on Monday, the OECD anticipated that the economy will grow by 3.7 percent in 2011, down from its original forecast of 4.6 percent due to sluggish world trade and domestic demand.