South Korea sees slump in economy

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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.

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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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