0525 GMT - South Korea's weaker-than-expected 4Q GDP print prompts DBS's economics team to cut its growth forecast for this year. The print caps off another year of below-potential GDP growth in 2024, with domestic demand again featuring as a key drag, economist Ma Tieying says. DBS now sees 2025 growth at 1.7% versus 2.0% previously, and 2.0% in 2024. It expects demand to stay weak in 1Q. A potential recovery could start in 2Q as the effect of the political crisis and recent airplane crash subside, restoring consumer confidence. This assumes that the constitutional court upholds President Yoon's impeachment, leading to a new election, Ma adds. Export growth is likely to slow through the year, with the focus on the risks posed by U.S. tariffs. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
January 27, 2025 00:25 ET (05:25 GMT)
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