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The Ministry of Strategy and Finance said in the November issue on Recent Economic Trends (Green Paper) “published on 13,” Recently, the Korean economy has continued to recover slowly in exports and has improved production, consumption and investment, but the recovery of the services and employment indicators was Although limited, uncertainty in the real economy continues due to the global spread of Corona 19. “
Regarding the external economic situation, he said, “The improvement in physical indicators is getting worse due to the continued spread of Corona 19 in major countries and the tightening of containment measures, and concerns about the delay in the global economic recovery are growing. expansion, “he said. “Expectations for vaccine development are spreading.”
The government refers to the “uncertainty of the real economy” for five consecutive months from July to this month in the Green Paper, which reveals its official economic judgment.
In terms of key indicators, overall industrial production increased 2.3% in the September industrial activity trend, but service sector output increased only 0.3%.
Retail sales increased by 1.7%. According to the latest October news for retail sales, the amount of national card approval increased 5.2% over the same period last year. Online sales (26.6%), discount sales (2.8%) and department store sales (2.4%) also increased.
Investments in structures and investments in construction increased by 7.4% and 6.4% on a monthly basis, respectively. Exports in October decreased by 3.6% compared to the same period of the previous year, but the average daily value of exports, taking into account the number of working days, increased by 5.6%.
Kim Young-hoon, head of the Department of Economic Analysis of the Ministry of Finance, said in a briefing on the day: “Exports have improved significantly and in terms of domestic demand, the situation is gradually improving from the sharp decline after the August proliferation. “. “Since Europe’s spreading trend is too small, the tightening of the blockade could affect exports.”
The October Consumer Trend Index (CIS) was 91.6, up 12.2 points from the previous month. In October, the manufacturing sector business survey (BSI) index rose 11 points to 79.
The number of people employed in October fell by 421,000 from the same period last year, and the unemployment rate increased by 0.7 percentage points to 3.7%.
Last month, consumer price inflation rose by 0.1% compared to the same period last year.
On the real estate market, the increase in selling prices in October decreased from 0.42% the previous month to 0.32%. Over the same period, the increase in the total set point decreased from 0.53% to 0.47%.
The Ministry of Science and Technology said: “We will strengthen our efforts to respond to well-rounded policies such as fiscal management and investment execution, the revitalization of domestic demand and the export and production perspective, while providing an answer. complete to quarantine. “
News / UPI Reporter Hye-young Kang [email protected]
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