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Monthly Economic Trends KDI Monthly Economic Trends 2024. 3 March 10, 2024

Monthly Economic Trends

Monthly published report on the analysis and forecast of the Korean economy based on domestic and foreign macroeconomic statistics.

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KDI Monthly Economic Trends 2024. 3
March. 10. 2024
Summary
The Korean economy is experiencing a continued contraction in domestic demand, yet exports are rebounding, thereby mitigating the economic slowdown.
     
  The value of construction completed exhibited a temporary uptick, yet both consumption and equipment investment continue to stagnate under the strain of sustained high interest rates.
     
  - The marked rise in construction production was primarily driven by temporary factors such as the momentum from construction projects approaching completion. Given the sluggishness observed in leading indicators, this high growth is expected to face adjustments moving forward.
     
  - In contrast, retail sales persist in their decline, while services production also remains lackluster, particularly in accommodation and food services.
     
  - Furthermore, the diminished spending capacity due to ongoing high interest rates, combined with higher inflation on certain items due to worsening supply conditions, may pose adverse impacts on consumption.
     
  However, the economic slowdown continues to abate, bolstered by a recovery in exports driven by favorable conditions in the semiconductor market.
     
  - With reduced concerns over a global economic slowdown, the downturn in global trade is easing, acting as a supportive factor for exports.
     
  - Moreover, the manufacturing industry reported increases in production and shipments, a decrease in inventories, and a sustained uptrend in sentiment indices, all signaling an ongoing recovery in manufacturing.
Contents
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. Housing Market

11-1. Major Indicators of the World Economy (I)

11-2. Major Indicators of the World Economy (II)
국내총생산 및 국내총소득의 성장률(2015년 불변가격) Growth Rates of GDP and GDI (at 2015 Constant Prices)
그래프 영역입니다. 그래프
민간소비 및 고정투자(2015년 불변가격) Growth Rate of Private Consumption and Fixed Investment(at 2015 Constant Prices)
그래프 영역입니다. 그래프
총수출 및 총수입 Total Imports and Exports
그래프 영역입니다. 그래프
외국인 순매수 Foreign Investors’ Net Purchase of Stocks
그래프 영역입니다. 그래프
기업대출 Bank Loans to Corporations
그래프 영역입니다. 그래프
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