Private Think Tank cuts S. Korea’s 2016 Growth Forecast to 2.5 Percent

SEOUL, Dec. 21 (Korea Bizwire) – South Korea’s economic growth rate will likely slow to 2.5 percent in 2016 due to a continued export slump and weakening domestic consumption, a leading private think tank forecast Sunday. The prediction by the LG Economic Research Institute (LGERI) marks a 0.2 percentage point drop from its earlier estimate made in September. LGERI’s revised growth projection is also lower than the government’s 3.1 percent estimate for [...]