Monthly Economic Trends KDI Monthly Economic Trends 2024. 3 March 10, 2024
LanguageENG
- Summary
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■ 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
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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(2020년 불변가격)
Growth Rates of GDP and GDI (at 2020 Constant Prices)
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민간소비 및 고정투자(2020년 불변가격)
Growth Rate of Private Consumption and Fixed Investment(at 2020 Constant Prices)
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총수출 및 총수입
Total Imports and Exports
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외국인 순매수
Foreign Investors’ Net Purchase of Stocks
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기업대출
Bank Loans to Corporations
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