Pyeong International PyeongChang lowered expectations for Korea's growth rate from 2.5% to 2.0%

Entry 2019.06.18 17:46
| Revision 2019.06.18 17:47

Moody's S & P retrograde in March … Average of three large companies Shinpyeongsa 2.17%

Pitch, an international rating agency, lowered its economic growth rate forecast in Korea this year to 2.5%, down 0.5 percentage point to 2.0%. In March, Moody's (2.1%) and Stanford & Poor's (S & P; 2.4%) lowered their growth rates, as the three international rating agencies lowered their forecasts for growth. economic growth. The revised forecasts of the three major rating agencies averaged 2.17%.

In his report on the World Economic Outlook released in June 2019 on Tuesday, Fitch said that the Korean economy "has collapsed unexpectedly due to a drop of 0, 4% of GDP in the first quarter of this year ". "China's exports came under pressure in the second half of last year due to slowing Chinese growth and trade disputes," Fitch said. . "China's exports have come under pressure since the second half of last year due to slower growth in China and trade disputes," Pitch said.

"The sharp rise in the minimum wage over the last two years has hurt business confidence and profits," said Fitch, "companies have cut capital spending sharply and private investment has continued to decline since the second quarter. from last year ".

However, Mr Pitch said: "The Korean economy will be able to recover from the second half of the year due to the impact of the new fiscal policy to promote demand and create jobs ". .

"Low inflation and a slowdown in the economy will likely prompt the Bank of Korea to reduce its interest rates by 25bp (1bp = 0.01%) in the near future," Pitch said. The pitch presented Korea's growth forecast for 2020 and 2021 at 2.6%.

Earlier in March, the international price index Moody's (M & D) fell by 2.1%, from 2.3% and that of S & P by 2.5% to 2%. , 4%. The three major international rating agencies lowered their growth forecasts while lowering their growth forecasts to highs. The average of the three main credit rating agencies is 0.23%. It went from 2.41% to 2.17%.