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Gov't: Trends of Economic Recovery Becoming Visible

Write: 2020-02-14 12:08:11Update: 2020-02-14 13:47:05

Gov't: Trends of Economic Recovery Becoming Visible

Photo : YONHAP News

The government has assessed that signs of economic recovery are emerging but such a trend could be constrained due to the novel coronavirus. 

The Finance Ministry made the assessment in a report released on Friday on the latest economic trends. 

The ministry said signs of economic recovery are becoming visible amid a rise in both the leading composite index and the coincident composite index in December. The ministry cited that such a rise came amid growth in production, consumption and facility investment in the fourth quarter of last year.  

However, the ministry was quick to add that the extent of the spread of the novel coronavirus could hinder global economic growth and the latest trend of recovery in South Korea’s economy.  

The ministry then added that it will swiftly pursue various policy tasks this year to boost investment, consumption and exports while exerting all-out efforts to address concerns over the spread of the virus and minimize the ramifications that the scare could have on the economy.

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