Macroeconomic Forecast South Korea

January 2005 | Macroeconomic Forecasts

South Korea's economy will slow to 4.4% growth in 2005 amid weaker demand for exports after an estimated expansion of 4.6% in 2004. The sustained unemployment rate is adding to concerns that domestic demand in Asia's third-largest economy will not recover fast enough to make up for the slowing external sector. However, a recent easing in inflation will provide the central bank with room to manoeuvre monetary policy towards supporting growth with further interest rate cuts.

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