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Economic and industrial outlook for the second half of 2014

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Frame of Image  With the global economic recovery still modest, oil prices will likely move within a limited range from the current level given the prevailing supply and demand conditions. The won/dollar exchange rate is very likely to fall further in the second half with the huge current account surplus and foreign capital inflow likely to continue for the time being. The Korean economy is expected to grow at a steady pace in the second half of the year thanks to greater exports amid the global economic recovery and continuing growth in domestic demand. Full-year growth is expected to be around 3.8% in 2014. Faltering growth in China and the household debt issue are among the key variables that may act as downside risks. Growth in private consumption should accelera t e o n g r e a t e r i n c o m e b a c k e d b y r ecovering exports, and stronger purchasing power backed by
stable oil prices and the won’s appreciation. However, the household debt burden will weigh on growth. Facilities investment should continue to enjoy a robust recovery, led by auto and semi-conductor, thanks to increasing exports and easing uncertainty about the global economy. Construction investment should grow at a slower pace year-onyear. Growth in exports is projected at 5% level in 2014, with growth gaining impetus from the global economic recovery in the second half. Imports should grow by 6% year-on-year, outpacing the growth of exports, on the back of recovery in domestic demand and exports, a drop in import p


Full Text
Title Economic and industrial outlook for the second half of 2014
Similar Titles
Material Type Reports
Author(English)

Shin, Hyun-Soo

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2014-08
Series Title; No KIET Industrial Economic Review / vol. 19(no. 4)
Pages 10
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < General
Industry and Technology < General
Holding KIET; KDI School