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0O 0O OO 0O OO 0O aggregate demand annual growth rate average balance of payments Bank of Korea billion cond half construction investment consumer price index continued Current Account Balance decline depreciation domestic demand economic growth economic recovery economic slowdown equipment investment Exchange Rate Outlook fiscal outlays fiscal policies GNP Deflator Half Half imports inflation rate inflationary expectation interest rates Japan KOREA DEVELOPMENT INSTITUTE Korean economy labor Macroeconomic major industrialized countries ment merchandise exports monetary policy oil prices oo oo OPEC payments deficit percentage change period persistent inflationary pressure plant and equipment quarter of 1992 real economic activities Real GNP Growth rH rH rise rn rn second half sector slow stabilization policy tion Trade Balance trade deficit trend U.S. dollar U.S. economy unemployment rate wage hikes WEFA wholesale price index won's World Economic Outlook