S. Korea's GDP growth to fall to 1.8% in 2020: Report
- 5 years ago
LG Economic Research Institute expects South Korea's growth rate to drop further next year to one-point-eight percent.
It also revised down this year's forecast to two percent from April's two-point-three percent.
The institiute blamed sluggish exports especially in semiconductors with the global economic slowdown and the U.S.-China trade war expected to continue into next year.
This will hurt the domestic economy,… causing companies to reduce investment and employment.
Slower expansion for 2020 is also forecast by Morgan Stanley and South Korea's Institute for the Future of State.
It also revised down this year's forecast to two percent from April's two-point-three percent.
The institiute blamed sluggish exports especially in semiconductors with the global economic slowdown and the U.S.-China trade war expected to continue into next year.
This will hurt the domestic economy,… causing companies to reduce investment and employment.
Slower expansion for 2020 is also forecast by Morgan Stanley and South Korea's Institute for the Future of State.