Monthly Economic Trends KDI Monthly Economic Trends 2024. 9 September 09, 2024
- Summary
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■ Despite strong export growth, the Korean economy is showing signs of constrained improvement, as elevated interest rates are delaying the recovery of domestic demand ○ The manufacturing sector persists in its recovery trajectory, driven by sustained high growth in exports, particularly in the ICT industry. - Although manufacturing-related indicators observed some adjustments due to disruptions in automobile production, the overall recovery trend in manufacturing remains intact, with semiconductor production maintaining high levels. ○ Despite strong export momentum, consumption and investment remain sluggish, indicating that domestic demand recovery has yet to materialize. - Retail sales remained subdued amid the persistent high interest rate environment. - Construction investment and related employment may remain suppressed for the time being, given the prolonged decline in its leading indicators, potentially constraining the recovery of domestic demand. - Furthermore, the delinquency rate among individual business owners continues to rise, indicating an escalating debt repayment burden.
- Contents
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Major Economic Indicators
Summary and Assessment
Major Indicators of the Korean Economy
1. Gross Domestic Product
(at 2020 Constant Prices)
2. Economic Activity
3. Consumption
4. Equipment Investment
5. Construction Investment
6-1. Exports, Imports and Terms of Trade
6-2. Current Account and Financial Account
7. Employment and Wage
8. Price Indices
9-1. Financial Market (I)
9-2. Financial Market (II)
10. Housing Market
11-1. Major Indicators of the World Economy (I)
11-2. Major Indicators of the World Economy (II)
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