SEOUL. Dec 3). South Korea's economic growth goal for next year has been sei at five to six per cent, lower titan over nine per cent growth expected this vear the Ministry of Finance and Econoim said Friday. reports AFP

The gloomier economic outlook was reported to President Kim Dae-Jung amid growing concerns over siuggish consumer spending al id exports.

The ministry said it exp-cuxi gross domestic product K'.DPl to show a growth of four to five per cent in the first halt of 2001 and six in the second hall.

But It forecast the economy will remain m a difficult situation in the first half of next year due to unstable financial markets and weakening inxestnient and consumption sentiment .

lo help pick up the eco-uomic sia< k in the first halt Hie ministry said the government plans to spend about 60 to 70 pci cent of its 2001 budget in the first six months.

The Bank of Korea earlier iorecasi GDP growth would ease io 5.3 per cent next year from 9 3 per cent projected for this year

The central bank then based the outlook on slower demand! in domestic and overseas inar-

South Korea's industrial output growth slowed to 6.4 per • cut ve.ir-on-vcar in November from I 1.5 per cent m OctolxT because ol sluggish consumer ‘•ixmding and exports, the National Staiisucal Office (NSU> said Frtdav. Nowmbci output dropped i <' |x r cent month on-Hioitili I 4lowing October's D. t ix i । .i>