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Article: Korea's GDP Growth to Drop 3 Percentage Points This Year.
- Article from:
- Korea Times (Seoul, Korea)
- Article date:
- January 9, 2001
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Domestic economic conditions are expected to deteriorate this year due to a downturn in the global economy.
The Korea Center for International Finance (KCIF) forecasts the nation's gross domestic product (GDP) growth will drop 3 percentage points this year from last year, as the U.S. economy shows signs of a hard landing.
Last month, Deutsche Bank forecast economic growth in the United States to hover around 2.7 percent, but it lowered the projection to 1.8 percent this month.
JP Morgan has also lowered its GDP growth outlook for the U.S. from 2.5 percent to 1.8 percent.
Such a downturn in the world's largest economy is predicted to ...