GKI expects a more moderate 6 percent decline in GDP this year

By: Trademagazin editor Date: 2020. 12. 16. 11:48

Based on favorable third-quarter data, the decline in the fourth quarter will reduce the rate from the previous 9 percent to 7 percent and the annual GDP decline from 7 percent to 6 percent in GKI’s latest December forecast.

In its fourth forecast this year, GKI wrote that the reason for the decline in the 4th quarter was the second wave of the pandemic, the restraining effect of restrictive measures on demand and supply.

However, the Institute for Economic Research has not changed its “W”-line trend forecast, which was also expected in September, that it is likely to see a deeper downturn in the fourth quarter again, after a large decline in the second quarter and an improvement in the third quarter. (MTI)