Economic experts forecast the growth rate of the South Korean economy to be in the mid-two percent range next year.

The state-run Korea Development Institute(KDI), which surveyed 19 economists in October said Monday that they expected the economy to grow two-point-five percent next year, down from two-point-eight percent surveyed in the third quarter.

The KDI said a pessimistic outlook on the economy is expanding amid downward adjustments in most of the nation's economic indices.

The survey showed the economy is expected to create about 100-thousand new jobs next year, with the jobless rate forecast to stand at the upper end of the three percent range.