Economic recovery being maintained for 9 months amid growing uncertainties

By : Arirang News

Published On: 2018-08-10

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01:29

The government's latest economic report shows... the Korean economy is seeing steady growth thanks to robust exports.
But there are some concerns over the weak employment figures.... and growing risks from the U.S.-China trade war.
Won Jung-hwan reports.

South Korea's economy has seen steady growth for 9 straight months on the back of a rebound in exports.
According to the Ministry of Economy and Finance's monthly economic "Green Book" report on Friday,… South Korea's outbound shipments jumped 6-point-2-percent in July from a year earlier.
Exports have been steeply increasing since November 2016,… led by a spike in global demand for steel and semiconductors.

But while the economy is maintaining its export-led recovery,… capital spending and the job market still face sluggish growth.
Facility investments dipped 5-point-9-percent on-month in June,… and the number of newly added jobs stayed slightly above 100-thousand per month over the past five months,… keeping the employment rate at just 67-percent,... unchanged from the same period in 2017.

The latest economic forecast also highlighted increasing uncertainties stemming from the growing trade spat between the U.S. and China
And experts worry that,… as those countries are Korea's two largest trading partners,… the trade spat could hit Korean exports.
Won Jung-hwan, Arirang News.

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