BOK may raise its economic growth outlook for 2011
2011-01-24 17:33:50
South Korea's central bank said on Monday it may upgrade the nation's economic growth outlook for 2011, reflecting a more bullish sentiment for the U.S. economic recovery.
The Bank of Korea (BOK) confirmed a local media report that the nation's economic growth rate in 2011 would likely hover above the long-term trend rate of 4.5 percent.
South Korea's actual gross domestic product (GDP) for this year is likely to exceed its long-term growth trend that the BOK earlier forecast, a BOK official told Xinhua.
The BOK, which had predicted the Asia's fourth-largest economy will likely grow 4.5 percent this year, would have to reflect the upgraded U.S. growth outlook now, the official said.
The U.S. economy is widely expected to expand 3.0 percent this year, 0.6 percentage point higher than earlier forecast.