South Korea's economy rebounding fastest in G-20

According to the latest growth outlook of the International Monetary Fund (IMF), released in October, South Korea's economy will shrink 1 percent this year, up from its earlier projection of a 3 percent contraction unveiled three months earlier. The 2-percentage point upward revision is the steepest adjustment among the Group of 20 major economies in the world over the same period, Yonhap News reported. It is also much higher than the average of 0.2 percentage point by which the IMF revised up for the whole G-20 countries.

Australia came next with its growth outlook lifted by 1.2 percentage points, followed by China and Germany with 1 percentage point and 0.9 percentage point during, respectively. Despite improving global economic conditions, Canada and Britain saw their growth predictions lowered by 0.2 percentage point each.

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