- The Greenbook: Current economic trends
Manufacturing fell in August, while services, consumption, construction
investment and facilities investment improved.
Industrial production rose 0.5 percent from the previous month in August
backed by services (up 1.1% → up 1.2%, m-o-m). Manufacturing (up
2.8% → down 1.4%, m-o-m) went down.
Retail sales (down 0.9% → up 3.9%, m-o-m) and construction investment
(down 3.4% → up 0.3%, m-o-m) improved in August, facility investment
remaining strong (up 2.1% → up 1.9%, m-o-m).
Exports declined 11.7 percent year-on-year in September, slowing down
for a 10th consecutive month, as global economies remained weak and
the semiconductor market has yet to rebound.
Consumer confidence rose 4.4 points to 96.9 in September, and the
business sentiment index (BSI) for the manufacturing sector improved 3
points to 71, the outlook for October going up 1 point to 73.
The cyclical indicator of the coincident composite index increased
0.2 points in August to 99.5, and the cyclical indicator of the leading
composite index fell 0.1 points to 98.3.
The economy added 348,000 jobs year-on-year in September as service
jobs continued to grow. The unemployment rate fell 0.5 percentage
points to 3.1 percent.
Consumer prices in September fell 0.4 percent from the previous year
due to the low prices of fresh food and oil products, as well as a high
base effect. Core inflation rose 0.6 percent.
KOSPI fell, the won weakened and Korea treasury yields declined in
Housing prices rose in September (down 0.05% → up 0.01%, m-o-m),
and Jeonse (lump-sum deposits with no monthly payments) prices
continued to fall (down 0.10% → down 0.03%, m-o-m).
Although the economy has been growing steadily, exports and investment
remain weak amid slowing global demand, including the weak
The government will work to boost investment, consumption and
exports by implementing fiscal spending as planned, as well as other
measures to support the economy. The government will strengthen its
risk management and stay fully alert to potential risks.