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Moody's forecasts S. Korea's economy will expand 2.5 pct this year

2018/11/09 22:31

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SEOUL, Nov. 9 (Yonhap) -- South Korea's economy will expand 2.5 percent this year, but the growth will slow down to 2.3 percent next year, Moody's Investors Service, a global credit ratings firm, said in a report released this week.

In its global macroeconomic outlook for the G-20 countries for 2019-20, Moody's cited a set of negative factors affecting South Korea's growth, including uncertainties surrounding U.S. trade policy and worsening external demand.

Last month, the Bank of Korea trimmed its economic growth outlook to 2.7 percent for 2018 from its earlier projection of 2.9 percent. Asia's fourth largest economy expanded 3.1 percent in 2017 and 2.9 percent in 2016.