Monthly Economic Trends KDI Monthly Economic Trends 2024. 11 November 06, 2024
- Summary
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■ The Korean economy maintains favorable export momentum, led by ICT products, yet domestic demand recovery is constrained by sluggish construction investment. ○ The manufacturing industry maintains its recovery trend as ICT exports continued their growth momentum - Although export growth moderated due to base effects, the overall momentum remained favorable, led by ICT products - Consequently, the inventory-to-shipment ratio decreased, particularly in semiconductors, and the average capacity utilization rate remained elevated. ○ However, despite the upward trend in equipment investment, the sustained weakness in goods consumption and construction investment continues to constrain domestic demand recovery. - The substantial increase in semiconductor equipment investment suggests that the effects of strong export performance may gradually spill over into domestic economic conditions. - By contrast, goods consumption continued its downward trajectory, while service consumption maintained modest growth. - Some leading indicators related to construction improved, yet the construction market remains contracted, as indicated by the value of construction completed continuing to post declines. - Accordingly, the inflation rate continues to decelerate.
- Contents
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Major Economic Indicators
Summary and Assessment
Major Indicators of the Korean Economy
1. Gross Domestic Product
(at 2020 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)
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