S. Korean economy "stagnant" for 7 consecutive months: KDI
- 5 years ago
The local economy has remained "stagnant" for seven consecutive months.
That's according to a monthly report released by the Korea Development Institute.
The think tank pointed out growth is being weighed by sluggish exports and investments,... despite an uptick in consumption.
Seoul's exports in September tumbled nearly 12 percent on-year amid a slowing global economy.
Production of electronic components and cars also fell around 17 percent and 12 percent, respectively.
Although consumption rose, it may have been due to an early thanksgiving holiday.
The rise was also attributed to increasing tourism to Jeju,... with many boycotting trips to Japan because of the bilateral trade row.
That's according to a monthly report released by the Korea Development Institute.
The think tank pointed out growth is being weighed by sluggish exports and investments,... despite an uptick in consumption.
Seoul's exports in September tumbled nearly 12 percent on-year amid a slowing global economy.
Production of electronic components and cars also fell around 17 percent and 12 percent, respectively.
Although consumption rose, it may have been due to an early thanksgiving holiday.
The rise was also attributed to increasing tourism to Jeju,... with many boycotting trips to Japan because of the bilateral trade row.