AMRO revises up S. 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 projected growth rate for South Korea's economy for this year to 3.3 percent, up from its earlier estimate of 3.1 percent. This revision was disclosed in the organization's quarterly update report, without providing further details on the reasons behind the change from its July projection.
Looking ahead to 2027, AMRO anticipates South Korea's economy to expand by 2.7 percent, a revision from the previous forecast of 2.2 percent. Regarding inflation, the agency expects consumer prices in South Korea to increase by 2.7 percent on-year in 2026, compared to the earlier forecast of 2.6 percent. For 2027, the inflation projection has been adjusted downward from 2.4 percent to 2.3 percent.
In a separate development, the OECD recently raised its 2026 economic growth forecast for South Korea to 3.7 percent, citing the country's robust exports. This represents a 1.1 percentage-point increase from the prior forecast of 2.6 percent, which was published in the OECD's June report. The OECD attributed South Korea's economic growth to strong exports and rising production.
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