Goldman Sachs, Fitch cut South Korea's 2019 growth forecast
Arirang News
2019-06-19
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골드만삭스ㆍ피치도 올 한국 성장률 전망 하향
Global credit rating agency Fitch Ratings and investment firm Goldman Sachs have both cut their growth forecast for South Korea.
Fitch slashed Korea's 2019 GDP growth estimate yesterday to two percent, down from two-point-five percent, citing an economic slump in the first quarter, sluggish exports and falling semiconductor prices.
Goldman Sachs cut is forecast by point-two-percentage points to two-point-one percent, citing prolonged U.S.-China trade tensions.
Goldman Sachs had previously forecast that the Bank of Korea would maintain its benchmark interest rate but now says there will likely be two rate cuts by next year.
The lowered forecasts follow similar actions from the World Bank, the OECD and the Bank of Korea.
Global credit rating agency Fitch Ratings and investment firm Goldman Sachs have both cut their growth forecast for South Korea.
Fitch slashed Korea's 2019 GDP growth estimate yesterday to two percent, down from two-point-five percent, citing an economic slump in the first quarter, sluggish exports and falling semiconductor prices.
Goldman Sachs cut is forecast by point-two-percentage points to two-point-one percent, citing prolonged U.S.-China trade tensions.
Goldman Sachs had previously forecast that the Bank of Korea would maintain its benchmark interest rate but now says there will likely be two rate cuts by next year.
The lowered forecasts follow similar actions from the World Bank, the OECD and the Bank of Korea.
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