One in Three Institutions Forecast South Korea's Growth at 3.5% or More This Year
Translated from Korean and summarized by DistantNews. Read the original for the full story.
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- Fourteen of 42 major domestic and international economic and financial institutions forecast South Korea's real GDP growth at 3.5% or higher this year, up from six two months earlier.
- Capital Economics and ING Financial Markets made the highest forecasts, at 4.0%, citing strong semiconductor exports.
- Most forecasts put next year's growth in the 2% range as semiconductor export growth is expected to slow.
Fourteen of 42 major domestic and international economic and financial institutions now expect South Korea's economy to grow by at least 3.5% this year, more than double the number recorded two months earlier.
The stronger forecasts reflect robust semiconductor exports. Capital Economics and ING Financial Markets offered the highest estimates, putting this year's growth at 4.0%.
The outlook is weaker for next year. Most institutions expect growth to fall into the 2% range as semiconductor export growth slows, renewing concerns about South Korea's heavy dependence on the industry.
About this summary
Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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