The Bank of Korea(BOK) has upgraded the country’s economic outlook for this year to one percent. 

The central bank announced on Thursday that it raised its 2025 growth outlook by zero-point-one percentage points from its August estimate of zero-point-nine percent. 
 
The revised outlook appears to reflect the higher-than-expected third-quarter growth of one-point-two percent, which came in above the BOK’s earlier forecast of one-point-one percent. 
 
The BOK had steadily downgraded its growth forecast for this year since November 2023, before raising it to zero-point-nine percent in August.

The central bank also raised its outlook for next year from one-point-six percent to one-point-eight percent.