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Korean economy maintaining modest expansion: KDI

All News 12:00 January 07, 2018

SEJONG, Jan. 7 (Yonhap) -- South Korea's economy is maintaining its modest rate of expansion as private spending recovers, offsetting a slowdown in corporate investment, a state-run think tank said Sunday.

"Facility investment growth slowed down, and construction investment continued its pace of deceleration, while consumer sentiment ran high, with retail sales posting sharp growth," the Korea Development Institute (KDI) said in its monthly evaluation of the country's economic conditions.

On the exports side, December's outbound shipment growth decelerated, but exports are posting decent growth on a daily basis, according to the KDI.

The country's industrial output declined 1.6 percent from a year earlier, following a 6.1-percent on-year decline in the previous month.

Retail sales and service production gained 6.5 percent in November, accelerating from an average of 4 percent growth between September and October, the think tank said.

Facility investment grew 6.3 percent in November, slowing from an average 10.6 percent on-year gain during the September-October period.

The country's outbound shipments in December grew 8.9 percent, again down from the previous month's 9.5 percent. But daily exports jumped 17.6 percent last month, the KDI added.

sam@yna.co.kr
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