The Organization for Economic Cooperation and Development(OECD) has lowered South Korea's economic growth outlook for this year to two-point-five percent.

The OECD announced its midterm economic outlook Wednesday, reflecting a downward adjustment by one-tenth of a percentage point from its previous forecast in July.

In May, the organization upgraded the economic outlook by zero-point-four percentage points to two-point-six-percent, after the economy grew one-point-three percent in the first quarter compared with the fourth quarter of last year. 

But the OECD appears to have revised its outlook because the economy shrank zero-point-two percent in the second quarter.

The OECD kept its growth outlook for South Korea for next year at two-point-two percent. 

The international organization lowered its inflation forecast for this year to two-point-four percent, down zero-point-one percentage point from its previous forecast in July.