Economic Recovery Weakening

      July 11, 2018 13:14

      The state-run Korea Development Institute on Tuesday warned that the pace of Korea's economic recovery is generally slowing.

      Although exports are generally brisk, domestic consumption growth is weakening, it said. Just last month, the KDI said Korea's economy was "maintaining steady growth."

      But now it points out that the biggest problem is slowing private consumption and investments. The consumer composite sentiment index for June stood at 105.5, meaning optimists still outnumber pessimists, but the figure has been falling steadily since late 2017.

      The number of jobs increased by only 72,000 in May, the smallest rise since January 2010. Youth unemployment also stood at a record 10.5 percent.

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