Economic Outlook(February 2024)

w  In 2024, the global economy will experience a shift in the high inflation and interest rate regime, while heightened geopolitical uncertainty continues to loom over growth.

w  Korea’s economy, despite weakening recovery momentum in domestic demand, such as consumer spending and construction investment, is projected to improve moderately aided by exports exceeding previous forecasts.

w  Consumer price inflation is expected to continue its gradual deceleration, mainly driven by core disinflation, owing to weak demand-side inflationary pressures, but the deceleration may temporarily slow due to geopolitical risks.