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Output, consumption signal economic recovery to continue in coming months

2018/01/12 10:15

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SEJONG, Jan. 12 (Yonhap) -- South Korea's economy is expected to maintain its current recovery pace in the coming months as industrial output, consumption and facility investment rebound, a government report said Friday.

However, a weaker job market and ongoing trade issues are likely to continue to weigh on the nation's economy, the finance ministry said in its monthly economy assessment report.

"Amid a modest growth in exports, the pace of an economic recovery is proceeding on the back of a rebound in industrial output, consumption and facility investment," the ministry said.

The report, called the "Green Book," is based on the latest economic indicators of such key factors as output, exports, consumption and corporate investment, which provide clues as to how the economy has been faring in recent months.

South Korea's exports have been on a steep upside cycle since November 2016, led by a spike in global demand.

Exports rose 17.6 percent during the first 10 days of January on-year, due to a robust gain in shipments of semiconductors and wireless telecommunication equipment, according to data from the Korea Customs Service.