[Photo] OECD lowers 2019 growth projection for South Korea to 2.6%

The OECD’s Interim Economic Outlook released on Mar. 6 reveals that South Korea’s projected growth rate for 2019 is 2.6%, compared to the 2.8% projection in November 2018. The report stated that global growth has started to slow after peaking in 2017. “Trade continues to drag us down. Trade growth has slowed further,” it added. The OECD also cut its 2020 growth projection for South Korea from 2.9% to 2.6%. Furthermore, economic prospects for almost all G20 countries were weaker than previously anticipated, indicating that South Korea’s dulled growth is part of a larger trend.