AMRO revises up Korean economy's growth projection this year to 3.3%
An economic surveillance organization in Asia on Monday projected South Korea's economy will expand 3.3 percent this year, revising up its previous forecast of 3.1 percent. The ASEAN+3 Macroeconomic Research Office (AMRO) made the assessment in its quarterly update report, without further elaborating on the reasons for the revision from its July forecast. For 2027, the organization expected…
The ASEAN+3 Macroeconomic Research Office (AMRO) has increased its projection for South Korea's economic growth this year to 3.3 percent, up from its earlier estimate of 3.1 percent. This upward revision was made in the office's quarterly update report, though the reasons behind the change were not specified. For 2027, AMRO predicts Asian powerhouse South Korea's economy will expand by 2.7 percent, a revision from its earlier forecast of 2.2 percent.
Regarding inflation, the agency anticipates consumer prices to increase by 2.7 percent on-year in 2026, a slight increase from its previous forecast of 2.6 percent. For 2027, the inflation projection has been adjusted downward from 2.4 percent to 2.3 percent. Earlier this month, the Organisation for Economic Co-operation and Development (OECD) raised its economic growth forecast for South Korea for 2026 to 3.7 percent, citing the country's robust exports.
This represents a 1.1 percentage-point increase from the 2.6 percent forecast in the OECD's June report. The OECD attributed the strong economic growth to rising production and robust exports.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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