■ Despite the recovery in the manufacturing industry, the Korean economy remains subdued led by the service industry due to the rapid domestic resurgence of Covid-19.

○ The manufacturing industry is sustaining its recovery owed to the continued fast growth in durable goods consumption, equipment investment, and goods exports.

- Average exports per workday continue to accelerate while machinery equipment investment maintains high growth.

- The cyclical component of the leading composite index is on the rise and semiconductor-related indicators are sustaining favorable trends, suggesting that the manufacturing industry is likely to continue improving.

○ However, the sluggishness in the service industry appears to be worsening since mid-November due to the nationwide resurgence of Covid-19 and tighter quarantine measures.

- The CCSI turned to a steep decline from the continued upward trend, and high-contact businesses such as accommodation and food services continued to shrink rapidly.

- In December, credit card sales are expected to drop sharply due to the ramp-up of social distancing to level 2.5 in the capital area.

Major Economic Indicators

Summary and Assessment

Major Indicators of the Korean Economy

1. Gross Domestic Product
　 (at 2015 Constant Prices)

2. Economic Activity

3. Consumption

4. Equipment Investment

5. Construction Investment

6-1. Exports, Imports and Terms of Trade

6-2. Current Account and Financial Account

7. Employment and Wage

8. Price Indices

9-1. Financial Market (I)

9-2. Financial Market (II)

10-1. Major Indicators of the World Economy (I)

10-2. Major Indicators of the World Economy (II)