S.Korea faces external uncertainties amid slumping investment, employment: gov't report

   Release date: 2018-11-10     Source: xinhuanet    Hits: 6    Comment: 0    
Note: SEOUL, Nov. 9 (Xinhua) -- South Korea's economy was facing the mounting external uncertainties amid the slumping investm

SEOUL, Nov. 9 (Xinhua) -- South Korea's economy was facing the mounting external uncertainties amid the slumping investment and employment at home, a government report said Friday.

The finance ministry said in its monthly economic assessment report, called Green Book, that external uncertainties escalated on a higher crude oil price and a trade conflict among major economies amid the slowdown in investment and employment.

The country's export and private consumption showed a robust picture, but the overall industry activity weakened on less business days, the report said.

The total number of those employed rose 45,000 in September from a year earlier, hovering below 100,000 in the monthly growth for the eighth consecutive month.

The number of those employed topped 1 million for nine months through September.

The export, which accounts for about half of the export-driven economy, advanced 22.7 percent in October from a year earlier, but the daily average export declined 4 percent.

Private consumption in September went down 2.2 percent from the previous month on weak demand for durable and non-durable goods.

Facility investment rose 2.9 percent in September from a month ago, but investment in the construction sector fell 3.8 percent in the month.

The finance ministry said risk factors facing the economy remained such as the continued trade conflict among key economies, the expected rate hike in the United States, the expensive crude oil and the lackluster employment at home.

 
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