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OECD sees South Korea’s growth slowing down

South Korea’s economic growth could slow down in the coming months, according to an analysis from the Organisation for Economic Cooperation and Development (OECD). The analysis was based on the drop in the country’s composite leading indicator (CLI) of economic activities. The CLI for South Korea was 101.2 in December, marking a fifth consecutive month of drop. The figure is still above the benchmark 100 but the OECD has noted that the CLI has dropped in August, September, October, and November. CLI is an index used by OECD to determine economic activity over the next six to nine months. A drop compared to the previous month means that a country’s GDP growth could slow. The OECD’s analysis was in line with the pronouncement of Deputy Prime Minister and Finance Minister Hong Nam-Ki that South Korea’s economy is heading toward uncertain territory due to a variety of factors at home and abroad.

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