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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 2018. 9
2018/09/11
Language Korean/English
SUMMARY □ There is continued growth in exports despite a decline in employment on weaker domestic demand led by sluggish investment, implying that a rapid economic downturn is highly unlikely.

○ As investment-related indicators remained weak, consumption-related indicators improved slightly, although still too faint to boost domestic demand.

- The continued huge declines in facilities and construction investment are weakening the growth in domestic demand.

- Retail sales rebounded partially owing to the cut in the special excise tax but consumer sentiment is rapidly declining, indicating that downward pressure remains, weighing on consumption momentum.

○ Employment remains sluggish influenced by such domestic demand conditions.

- However, the drop in July’s employment growth was too steep to be simply understood as a consequence of demographic changes and economic conditions.

○ Meanwhile, export growth sustained relatively robust levels, even when certain leading items such as semiconductors are excluded, implying that overall economic activities including production are unlikely to slow down at a fast pace.
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