Finance Ministry's Green Book suggests slow growth trend will continue
- 5 years ago
기재부 그린북 "투자•고용 조정…대외 불확실성 지속"
Seoul's finance ministry released its monthly assessement of local economic conditions... based on key data such as exports, job growth, and investment.
The government's concerns over domestic and external risks continue through December.
Kim Hyesung has more from the latest greenbook.
The Ministry of Economy and Finance has omitted the word "recovery" from its monthly greenbook report for the third consecutive month.
It said domestically, the Korean economy is backed by solid exports and consumption, but investment and job growth remain sluggish... and there are still uncertainties stemming from the U.S.-China trade war.
Since last December, the finance ministry had said the local economy is on a "steady recovery" path,... but starting in October... the word "recovery" has not been mentioned.
The greenbook said in October, there was a slight rise in consumption of zero-point-two percent compared to the month before.
Industrial production expanded by zero-point-four percent on rising demand for transport equipment.
On the trade front, exports rose in November by 4-and-a-half percent on-year... to nearly 52 billion U.S. dollars, the third highest figure on record, thanks to solid semiconductor and petrochemical exports
In terms of employment, Korea added 165-thousand new jobs on-year in November, the first time its added more than a hundred-thousand in five months,
But unemployment remained high at three-point-two percent.
As for investment, investment in the construction sector fell two-point-two percent on-month in October.
Facilities investment grew by around two percent thanks to higher spending on transport equipment.
But in the third quarter as a whole, facilities investment actually fell more than four percent on-quarter, and more than seven percent on-year... because of the sluggish manufacturing sector.
The finance ministry pointed to the weak job market, the U.S.-China trade conflict, and U.S. rate hikes as the three main risks to the Korean economy... and vowed to help support growth through an expansionary fiscal policy.
Kim Hyesung, Arirang News.
Seoul's finance ministry released its monthly assessement of local economic conditions... based on key data such as exports, job growth, and investment.
The government's concerns over domestic and external risks continue through December.
Kim Hyesung has more from the latest greenbook.
The Ministry of Economy and Finance has omitted the word "recovery" from its monthly greenbook report for the third consecutive month.
It said domestically, the Korean economy is backed by solid exports and consumption, but investment and job growth remain sluggish... and there are still uncertainties stemming from the U.S.-China trade war.
Since last December, the finance ministry had said the local economy is on a "steady recovery" path,... but starting in October... the word "recovery" has not been mentioned.
The greenbook said in October, there was a slight rise in consumption of zero-point-two percent compared to the month before.
Industrial production expanded by zero-point-four percent on rising demand for transport equipment.
On the trade front, exports rose in November by 4-and-a-half percent on-year... to nearly 52 billion U.S. dollars, the third highest figure on record, thanks to solid semiconductor and petrochemical exports
In terms of employment, Korea added 165-thousand new jobs on-year in November, the first time its added more than a hundred-thousand in five months,
But unemployment remained high at three-point-two percent.
As for investment, investment in the construction sector fell two-point-two percent on-month in October.
Facilities investment grew by around two percent thanks to higher spending on transport equipment.
But in the third quarter as a whole, facilities investment actually fell more than four percent on-quarter, and more than seven percent on-year... because of the sluggish manufacturing sector.
The finance ministry pointed to the weak job market, the U.S.-China trade conflict, and U.S. rate hikes as the three main risks to the Korean economy... and vowed to help support growth through an expansionary fiscal policy.
Kim Hyesung, Arirang News.