Market Chatter: Global Banks Raise South Korea Growth Outlook on Semiconductor Cycle Turn

MT Newswires Live02-05 19:29

Key global investment banks, including Citi, UBS, Nomura, Bank of America, and JP Morgan, raised their growth forecasts for South Korea in 2026, owing to a recovery in the global semiconductor industry cycle.

The average 2026 growth estimate from eight international banks rose to 2.1%, up 0.1 percentage point from a month earlier, Yonhap News reported Thursday, citing the Korea Center for International Finance.

Citi raised its estimate to 2.4% and UBS to 2.2%. Nomura held its view at 2.3%, while Barclays and Bank of America maintained forecasts at 2.1% and 1.9%, respectively. JP Morgan also kept its outlook unchanged at 2%, the report said.

Goldman Sachs, on the other hand, lowered its forecast to 1.8% from 1.9%, it said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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