Retail in Asia

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S Korea’s outlook upbeat as growth forecasts raised

South Korea’s government raised its growth forecasts on Thursday and announced a gradual return of economic policy to pre-crisis settings, reinforcing market expectations that interest rates would start rising.

The government lifted this year’s growth forecast to 5.8 percent from 5 percent seen early this year and expects the economy to create 300,000 more jobs this year, 50,000 more than expected six months ago.

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