s. Korea is the lowest on earth.
Italy's growth rate is the lowest in Europe I believe. Or one of the lowest at 1.1.
The New York Times Magazine just did an article on birthrates this past weekend.
Among the findings were that countries that have been more conservative or traditional in the past tend to have lower birth rates (Italy, Greece and Spain). Countries with the highest birthrates are actually in more progressive and liberal countries of Europe (Norway, France, UK...).
Link for those interested in details the details (includes an explanation why the U.S. continues to buck the falling birthrate trend):
http://www.nytimes.com/pages/magazine/