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Scotiabank expects South Korean real GDP to grow 3.6% in 2021 and 2.7% in 2022, supported by electronics exports and expansionary fiscal policy. Inflation is expected to stay elevated in coming months largely because of base effects before settling near the central bank's 2% target.
The economy contracted only 1% in 2020 and output has passed its pre-pandemic level.
Stronger domestic demand supports Korean animal protein and feed consumption over the forecast period. The impact on feed commodity prices is modest and gradual.
scotiabank.comMay 6, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
