The government has diagnosed that the export-oriented economic recovery has continued for six months and domestic demand shows signs of a modest recovery.
In the October issue of "Recent Economic Trends," the Ministry of Strategy and Finance said that the Korean economy has continued to recover from the export and manufacturing industries amid the expansion of price stability, and that there is a speed difference between sectors amid signs of a gradual recovery in domestic demand centered on facility investment and service industries.
Since May, the government has diagnosed domestic demand as a "sign of recovery" based on improvements in the service industry, and has diagnosed that there is a temperature difference from exports.
In August, production in the service industry increased 0.2% from the previous month, continuing its third month of increase.
Retail sales also rose 1.7%, turning to an increase.
However, compared to the same month last year, it has continued to decline to a level of 1.3%.
An official from the Ministry of Economy and Finance said, "We will pursue a dynamic economic roadmap to improve the quality of life of the people and strengthen the sustainability of our economy."
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