Economy 365
Major foreign investment banks have raised their economic growth forecast for South Korea this year to an average of 3.7%.
This is a 0.2 percentage point increase from a month ago, marking upward revisions for seven consecutive months since April.
The upward adjustment appears to reflect the third-quarter growth rate of 1.0%, which significantly outperformed the market forecast of 0.3%.
The forecast for the current account surplus-to-GDP ratio this year also rose to 19.4%, narrowing the gap with Taiwan to 1.6 percentage points.
The average growth forecast for next year was also revised up by 0.1 percentage point to 2.9%.
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Han Jiyeon
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