SEOUL, May 29 (Xinhua) -- South Korea's central bank on Thursday slashed this year's growth outlook for the Asian economy by 0.7 percentage points amid rising uncertainties at home and abroad.
Real gross domestic product (GDP), adjusted for inflation, was expected to gain 0.8 percent in 2025, down compared with 1.5 percent estimated three months earlier, according to the Bank of Korea (BOK).
The BOK attributed the downward revision to the delayed recovery in domestic demand and the U.S. protectionist moves.
The BOK forecast was lower than growth estimates of 1.5 percent from the Organization for Economic Cooperation and Development (OECD) and 1.0 percent from the International Monetary Fund (IMF).
Growth forecast for private consumption in 2025 was cut by 0.3 percentage points to 1.1 percent, while outlook for facility investment was lowered by 0.8 percentage points to 1.8 percent.
Export for goods was predicted to fall 0.1 percent this year, while construction investment was projected to tumble 6.1 percent.
The real GDP was expected to grow 1.6 percent in 2026, down from 1.8 percent estimated three months earlier.
The consumer price index (CPI) was forecast to go up 1.9 percent this year and 1.8 percent next year.
Outlook for current account surplus was set at 82 billion U.S. dollars in 2025 and 72 billion dollars in 2026.
The number of jobs was projected to increase 120,000 this year and 100,000 next year. Forecast for jobless rate was placed at 2.9 percent in 2025 and 3.0 percent in 2026. ■
