Analysis by Region - Asia Pacific - South Korea
We kept our 2024 GDP growth forecast for South Korea at 2.4%, as we think the domestic demand contraction in Q2 was temporary. We expect sequential growth to pick up in the following quarters, underpinned by the stocking process in the technology sector. We cut our forecast for 2025 GDP growth by 0.2ppts to 2.2% to reflect the impact on exports of slower growth in South Korea's major trade partners.
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