The Korean economy continues to show signs of recovery, driven by strong exports and manufacturing output, with consumer prices showing signs of stabilisation, Yonhap News Agency reported, citing the finance ministry on Friday.
The Ministry of Economy and Finance made the assessment in the Green Book, its monthly economic report, noting that domestic demand is also recovering, led by facility investment and the service sector.
The Korean economy is experiencing a recovery trend amid the stabilisation of consumer prices, driven by robust exports and the manufacturing sector. Domestic demand is also showing signs of a gradual recovery, led by facility investment and the service sector, although the pace differs among sectors.
The ministry highlighted signs of improving domestic demand for five straight months.
The report, however, noted that geopolitical risks, continue to pose uncertainties for Asia’s fourth-largest economy.
Source: Emirates News Agency