south korea growth slows to 20 in 2012
Last Updated : GMT 14:45:54
Arab Today, arab today
Arab Today, arab today

South Korea growth slows to 2.0% in 2012

Arab Today, arab today

Arab Today, arab today South Korea growth slows to 2.0% in 2012

Seoul - AFP

South Korea\'s central bank confirmed Tuesday that the country\'s economy grew just 2.0 percent last year -- the slowest rate for three years -- on weak export growth and consumer demand. The growth figure was in line with the Bank of Korea\'s preliminary estimate made in January. Exports, which account for 50 percent of GDP, grew 4.2 percent in 2012, down from 9.1 percent growth the year before, hit by sagging demand from major markets including China and Europe. \"Private consumption slowed, while investments on construction and corporate infrastructures shrank,\" the central bank said in a statement. South Korea, with an export-led economy, tends to mirror the fortunes of the region, and its GDP numbers are often a harbinger of broader trends in Asia. Korean exporters say they are being hurt by the weakness of the yen, which is giving Japanese products a strong competitive edge in the key electronic and auto markets. Private consumption grew 1.7 percent in 2012, slower than 2.4 percent a year earlier. Investment on construction shrank 2.2 percent after falling 4.7 percent in 2011, while investment on corporate infrastructure was also down 1.9 percent from the previous year. The government is poised to unveil a package of stimulus measures, which may include 10 trillion won ($9.0 billion) in extra budget plans, in a bid to prop up growth. The central bank recently slashed its forecast for economic growth for this year to 2.8 percent from 3.2 percent estimated last October. The economy has shown signs of picking up since the third quarter of last year, but analysts say slowing manufacturing activity in recent months suggests weak underlying conditions. With inflation running at just 1.4 percent -- well below the BOK\'s target range of 2.5-3.5 percent -- the bank is expected to consider an interest rate cut by the end of the second quarter if the economy is still struggling.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

south korea growth slows to 20 in 2012 south korea growth slows to 20 in 2012

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

south korea growth slows to 20 in 2012 south korea growth slows to 20 in 2012

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today Online exhibit shows hidden depths of

GMT 11:45 2017 Thursday ,23 November

Online exhibit shows hidden depths of
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday