KDI slighly lowers S. Korea's growth rate to 2% for 2019
Updated: 2019-11-13 15:04:41 KST
South Korea's state-run research institute has lowered the country's growth rate for this year due to slowing investments and external risks.
The Korea Development Institute said on Wednesday that it has lowered South Korea's growth rate to 2 percent for 2019, slightly down from its earlier forecast in May.
The institute said slowing investment has dragged down manufacturing sector and private consumption.
Global downside risks include the U.S.-China trade war.
It has also slightly cut the growth projection for next year to 2.3 percent.
The research institute, however, expects exports and the domestic consumption to pick up a bit next year.