Photo : YONHAP News
Domestic demand is showing signs of recovery, according to the government.
The Ministry of Economy and Finance presented the assessment Friday in its monthly economic report, known as the “Green Book,” for September.
The ministry said the economy continues to recover amid solid exports and manufacturing gains, and that domestic demand is also showing signs of a gradual recovery led by facility investment and the services industry, although the pace of recovery varies from sector to sector.
The ministry has used the expression “signs of recovery in domestic demand” in its reports for five straight months.
However, it added the word “gradual” to its assessment for the second month in September, somewhat tamping down its expectations for a recovery.
Facility investment increased over ten percent month over month in July, and 18-point-five percent from a year earlier.
Production in the service sector gained zero-point-seven percent month over month in July, posting growth for the second consecutive month.
But retail sales, an indicator of consumption, declined one-point-nine percent month over month in July.