/24-7PressRelease/ - MUMBAI, INDIA, September 13, 2007 - Major investment banks have raised their average growth forecasts for South Korea in 2008.
Figures from the Korea Center for International Finance show that last month eight major investment banks raised their growth forecast for Asia's third-largest economy by 0.1 per cent to five per cent, yohnap.news.co.uk reports.
The highest forecast was from BNP Paribas, which projects growth of 5.5 per cent, while Goldman Sachs and Citigroup anticipate growth of 5.3 per and 5.2 per cent respectively.
Meanwhile, JP Morgan and Merrill Lynch expect growth to hit 5.1 per cent and 5 per cent in the East Asian nation, and Lehman Brothers, Morgan Stanley and UBS anticipate economic growth of between 4.8 per cent and 4.2 per cent.
Analysts attribute the banks' reassessments of growth to rising exports as well as growing consumer spending.
Market observers cite rising exports and consumer spending as reasons for the latest revisions.
News of the projections comes as Korean government officials recently announced that the crisis in the sub-prime mortgage market will have a "limited" impact on the Korean economy.
Copyright and Disclaimer:
Copyright 2007, Aranca. All Rights Reserved.
All the contents of this Site are only for general information or use. They do not constitute advice and should not be relied upon in making (or refraining from making) any decision.
Editors/Journalists/Blogs are invited to request republishing/dissemination rights. All requests to republish Aranca material for distribution should be addressed to:
Aranca Syndication Service at syndicate@aranca.com.
Tel: +91.22.4005 2219 / +91.22.6725 8115
About Aranca
Aranca is an end-to-end provider of on-demand, investment, business and
economic research, and valuation services to global clients. Our unique
blend of market knowledge,flexible servicing models, quality assurance
standards and offshore operations reward our clients with high quality,
scalable, cost-effective research and valuation services. With client facing
offices in San Francisco, New York, London, Brussels and Mumbai.
---
Press release service and press release distribution provided by http://www.24-7pressrelease.com# # #
Read more Press Releases from Srinivas Macha:Other Press Release Headlines:
