South Korea is forecast to suffer a less economic impact from the COVID-19 pandemic than other countries this year.
 
According to a recent report by Bloomberg Economics, South Korea's gross domestic product is predicted to contract point-one percent this year, down two-point-four percentage points from Bloomberg's earlier projection issued before the coronavirus outbreak.
 
This new figure represents the second smallest downward adjustment for 31 major economies, after the one-point-six percentage points for Hong Kong.
 
According to Bloomberg forecasts, South Korea also ranks third in this year's growth outlook after China and Indonesia, which are projected to grow two percent and point-eight percent, respectively.
 
Bloomberg slashed its growth outlook for the United States from two percent to minus six-point-four percent.