South Korea sees slump in economy
2012-04-03
The central bank of South Korea has acknowledged the economy grew at its slowest pace for two years in the last quarter of 2011.
The bank data shows it was the slowest quarter-on-quarter growth since 0.2 percent in October-December 2009.
Year-on-year GDP in the three months to December was up 3.3 percent, slowing from a revised 3.6 percent increase in the third quarter.
But industrial output was up more than expected in February from January due to the sluggish US and European growth.
Source: Central Asia News.Net
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