Global investment banks suggest 2.9 pct growth for S. Korean economy

SEOUL, Jan. 6 (Yonhap) -- Global investment banks are suggesting an annual growth rate of 2.9 percent for the South Korean economy this year, data showed Saturday, just below the central bank's outlook of 3 percent. While the Bank of Korea said in October Asia's fourth-largest economy will grow 2.9 percent on-year for 2018, Gov. Lee Ju-yeol told reporters earlier this year that growth may reach 3 percent, hinting at a revision. Barclays and Goldman Sachs estimated an annual growth rate of 3.1 percent for the South Korean economy in 2018, while Bank of America Merrill Lynch, Citi, Nomura and UBS suggested 3 percent growth. JP Morgan, Credit Suisse, and HSBC expected on-year growth to reach 2.9 percent, 2.8 percent and 2.6 percent, respectively. The nine international banks surveyed also said they expect the country's consumer prices to rise 2 percent this year, compared to the 1.9 percent increase posted in 2017. colin@yna.co.kr (END)