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%.

*This article was produced with AI audio.