Moody's raises S. Korea's 2021 growth outlook to 4%

By Yonhap

Published : Aug. 31, 2021 - 21:07

- Link copied

The logo of US credit rating agency Moody’s Investors Service (AP-Yonhap)

Moody's Investors Service on Tuesday revised up South Korea's growth forecast for this year to 4 percent on strong exports.

In its report on world economic outlook, the rating agency adjusted South Korea's gross domestic product growth outlook from its previous estimate of 3.5 percent in May.

The nation's growth will continue to be supported by high demand across the globe for industrial products, especially electronics, the agency said.

Moody's also revised South Korea's growth outlook for next year from 3 percent to 3.2 percent, saying it expects a strong recovery in the country's economy. (Yonhap)

Yonhap
Yonhap
Articles by Yonhap
- Med professors to resign this week amid prolonged doctors' walkout
- Seoul shares fall on foreign selling despite overnight US gains

Moody's raises S. Korea's 2021 growth outlook to 4%

More from Headlines