Release of medium-to-long term outlook on respective agenda based
on the analysis of pending macroeconomic issues

Monthly Economic Trends

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KDI Monthly Economic Trends 2017. 10
Language Korean/English
SUMMARY □ Korea maintained the economic improvement driven by exports and the manufacturing industry but a recovery in domestic demand is still lagging.

○ Production in manufacturing such as semiconductors increased on favorable export momentum, boosting economic indicators on the production side.

- August’s services production maintained a modest growth while that in mining and manufacturing industry turned to an increase, supporting the economic improvement in production.

- Moreover, the favorable export momentum appears to be have been sustained overall with average daily exports (adjusted for changes in the number of workdays) recording high growths in September.

○ However, consumption growth abated, hinting at a gradual moderation in domestic demand.

- Growth in retail sales ascended in July owing to temporary factors but plummeted in August while consumer sentiment weakened gradually.

- The value of construction completed exhibited slowing growth while relevant leading indicators remained sluggish.

- Meanwhile, facilities investment maintained relatively strong growth driven by semiconductor manufacturing equipment, partially making up for the setbacks in other domestic demand.
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