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Gov't Says Nation Seeing Economy Recovery Led by Manufacturing Sector

Written: 2024-02-16 14:24:15Updated: 2024-02-16 14:32:55

Gov't Says Nation Seeing Economy Recovery Led by Manufacturing Sector

Photo : YONHAP News

The government has assessed that the nation is seeing an economic recovery led by the manufacturing sector, but consumption and investment in construction remains sluggish.

In the Green Book, the monthly economic assessment report, the economy and finance ministry said that inflationary pressure has been slowing down amid a recovery led by exports and the manufacturing sector. 

It's a more positive assessment compared to the previous month when the ministry said the nation has shown growing signs of an economic recovery. 

The nation’s overall industrial output increased zero-point-three percent on-month and one-point-one percent on-year in December. 

Exports increased 18 percent on-year in January, posting growth for the fourth consecutive month. 

Consumer prices rose two-point-eight percent in January, slowing down from a three-point-two percent rise in the previous month, but the inflation rate may accelerate again due to external uncertainties.

The ministry gave a more negative assessment on investment in construction compared to last month.

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