You are here: Home » PTI Stories » National » News
Business Standard

South Korea's central bank cuts outlook on trade battle

AP  |  Seoul 

has cut its forecast on the country's economy, citing mounting uncertainties from the US-trade battle.

of Korea today said it lowered its growth outlook on Asia's fourth-largest economy to 2.9 per cent this year, compared with its earlier forecast of 3 per cent growth.

The says the spiralling trade battles between the world's two largest economies increased potential risks to the South Korean economy.

It also says worse-than-expected job rates and slower capital expenditure contributed to its downward growth revision.

South Korea's growth is expected to further slow in 2019. says the South Korean economy is likely to grow 2.8 per cent next year.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 12 2018. 13:40 IST