Economy / South Korea
Macroeconomic Forecast South Korea
April 2007 | Macroeconomic ForecastsBMI View: In line with our view that growth likely peaked in Q106, the economy expanded by 4.0% y-o-y in Q406, down from a revised 4.8% in the previous quarter, as export growth slowed and domestic demand remained sluggish. Full-year growth came in at 5.0%, just below our 5.2% forecast. We expect real GDP growth to slow to 4.7% in 2007, as domestic demand recovers only gradually - undermined by slow job creation and consumer credit concerns - and export growth softens further with the projected slowdown in the global economy.
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