Yet another forecast of economic growth in Korea coming in much lower than the government's projection. The macroeconomic research office of the ASEAN+3 group known as AMRO for short has forecast South Korea's economy to grow this year by two-point-one percent... and next year by two-point-two percent next year. That compares to the government's forecasts, respectively, of 2-point-5 and 2-point-6. AMRO said the South Korean economy faces headwinds including the ongoing U.S.-China trade war, slowing global growth and an aging population. To support the economy, it recommended the government use expansionary fiscal policies. Standard & Poor's on Tuesday also revised down its estimate for South Korea... from the 2 percent it forecast in July... to 1-point-8 percent.
