Seoul, May 29 -- 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 202...