OECD Leaves Growth Forecast for Korea Unchanged at 4%

  • Arirang News

    December 02, 2021 08:21

    The OECD has maintained its economic growth outlook for Korea at four percent for this year while lowering its forecasts for other major countries.

    Korea's growth outlook is unchanged from the OECD's forecast in September. The OECD cut its outlook for China from 8.5 to 8.1 percent, for Japan from 2.5 to 1.8 percent and for the U.S. from six to 5.6 percent. It also lowered its global forecast from 5.7 to 5.6 percent.

    The OECD said Wednesday, "The Korean economy continues to recover following the COVID-19 shock, propelled by strong export growth, improving business investment and public support."

    It also projected the country's annual economic growth would remain "robust" at three percent for the next two years.

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