BEAMSTART Logo

State-run think tank KDI slashes GDP forecast, urges BOK to cut rates

Korea Economic Daily LogoKorea Economic Daily1w ago

State-run think tank KDI slashes GDP forecast, urges BOK to cut rates - Korea Economic Daily

Quick Summary:

The Korea Development Institute (KDI), South Korea’s state-run think tank, has slashed its forecasts for the country’s economic growth for this year and 2025, citing growing uncertainty surrounding the new Trump administration’s trade policy.

Eight major IBs, including Goldman Sachs and JPMorgan Chase, predicted Korea's 2024 growth rate at 2.3% on average as of the end of October, 0.2 percentage point lower than their earlier forecasts.2025 GROWTH COULD FALL BELOW 2% IF TRUMP MOVES FASTERThe KDI said it assumes a possible US tariff hike by the new Trump administration will come in 2026.

The KDI expects Korea’s current account surplus to expand to $93 billion next year from $87.5 billion this year, largely due to lower import prices in line with falling international oil prices.‘FURTHER BOK RATE CUTS NEEDED’Korea’s consumer price inflation will slow to 1.6% next year from an estimated 2.3% gain this year, according to the KDI.


More Pictures

State-run think tank KDI slashes GDP forecast, urges BOK to cut rates - Korea Economic Daily (Picture 1)State-run think tank KDI slashes GDP forecast, urges BOK to cut rates - Korea Economic Daily (Picture 2)State-run think tank KDI slashes GDP forecast, urges BOK to cut rates - Korea Economic Daily (Picture 3)State-run think tank KDI slashes GDP forecast, urges BOK to cut rates - Korea Economic Daily (Picture 4)State-run think tank KDI slashes GDP forecast, urges BOK to cut rates - Korea Economic Daily (Picture 5)

or

Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 20:37:47 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 773 words

Reading Time: 5 minutes read

Sentences: 35 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 23552424

View Article Analysis

About Korea Economic Daily

Korea Economic Daily Logo

Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 11 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 8 hours ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

Publisher Details

Frequently Asked Questions

How long will it take to read this news story?

The story "State-run think tank KDI slashes GDP forecast, urges BOK to cut rates" has 773 words across 35 sentences, which will take approximately 4 - 7 minutes for the average person to read.

Which news outlet covered this story?

The story "State-run think tank KDI slashes GDP forecast, urges BOK to cut rates" was covered 1 weeks ago by Korea Economic Daily, a news publisher based in South Korea.

How trustworthy is 'Korea Economic Daily' news outlet?

Korea Economic Daily is a fully independent (privately-owned) news outlet established in 1964 that covers mostly economy news.

The outlet is headquartered in South Korea and publishes an average of 11 news stories per day.

It's most recent story was published 8 hours ago.

What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
  • News ID: #23552424
  • URL: https://beamstart.com/news/state-run-think-tank-kdi-17314115879474

BEAMSTART

BEAMSTART is a global entrepreneurship community, serving as a catalyst for innovation and collaboration. With a mission to empower entrepreneurs, we offer exclusive deals with savings totaling over $1,000,000, curated news, events, and a vast investor database. Through our portal, we aim to foster a supportive ecosystem where like-minded individuals can connect and create opportunities for growth and success.

© Copyright 2024 BEAMSTART. All Rights Reserved.