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  • KDI Monthly Economic Trends 2020. 10
  • Date October 12, 2020
  • Language Korean
PDF Major Indicators
■ The Korean economy remains subdued led by domestic demand due to a resurgence of COVID-19.

○ Domestic demand exhibited an increased decline, mainly in services and construction, due to tighter social distancing and a longer rainy season.

- Retail sales continued its slow growth while investment showed temporary sluggishness.

- The number of employed persons continued to drop at a fast pace, mainly in the service industry.

- However, the growth in durable goods sales remained high, partially easing the services-centered contraction in domestic demand.

○ Exports maintained a slight downturn as external demand gradually regains some traction.

- Despite thousands of new COVID-19 cases still being reported everyday across the globe, the global manufacturing sentiment index exceeded the baseline, and the contraction in global trade volume is gradually easing.

- The average exports per workday exhibited a subtle decline in both August and September, but October’s BSI on future tendency in manufacturing exhibited a moderate growth led by export companies.
Private Consumption and Fixed Investment(at 2010 Constant Prices)
Net Purchases by Foreign Investors
Banks Loans to the Corporate Sector
 
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Office of Global Economy
Providing Economic Forecast and Macroeconomic Policy Direction, the Groundwork for a Brighter Future

The Department of Macroeconomics is conducting researches on the macro economy and macroeconomic policy, particularly focusing on suggesting the analysis of macroeconomic trends and current status of the economy at home and abroad, the economic forecast, and the policy direction of the macro economy. The Department is also in charge of establishing, sustaining and maintaining various econometric models, based on which it analyses policy effects and develops a long-term economic forecast.

Main Tasks
  • Economic trend analysis, short- and long-term forecast
  • Policy study on macroeconomic management
  • Basic structural analysis on macroeconomic areas
  • Maintenance of multi-sectoral dynamic macroeconomic model
Department of Macroeconomic Policy
  • LEE. Tae Suk

    Director, Division of Analysis and Evaluation

    82-044-550-4725
  • CHO, Byungkoo On leave

    Director and Vice President, Department of North Korean Economy

    82-044-550-4725
  • LEE, Jongkyu

    Fellow

    82-044-550-4725
  • WEE, Hyeseung Dispatched

    Research Associate

    82-044-550-4725
  • NAM, Jinwook On leave

    Specialist

    82-044-550-4725
  • KIM, Seulki

    Research Associate

    82-044-550-4725
  • CHUN, Eunkyung

    Research Associate

    82-044-550-4725
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