Moody’s revises up Korea’s growth outlook to 4.0% for 2021, to 3.2% for 2022

2021.09.01 12:10:24 | 2021.09.01 14:17:36

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Moody’s Investors Service has revised up its outlook for South Korea’s 2021 economic growth to 4.0% from its May projection of 3.5%, and 3.2% for 2022 from previous 3.0%, citing strong performance of the country’s economic backbone export, particularly electronics. The country’s seasonally adjusted aggregate output “already surpassed the pre-coronavirus peak,” despite the brief slowdown in Q2 growth to 0.7% from Q1’s 1.7% due to supply chain bottlenecks, said the global credit agency in a report published on Wednesday. But next year’s growth, which could continue to be strong, hinges on the speed of vaccination rollouts.

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