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South Korea economy sustaining recovery at mid-Nov: central bank
[SEOUL] South Korea's economy maintained its modest recovery into the middle of this month led by solid growth in private consumption, construction spending and service-sector output, the central bank said on Thursday.
The Bank of Korea said in a monthly report on regional economic conditions that manufacturing output posted little growth but service-sector output grew slightly. The report covers a roughly 30-day period up to the middle of the month.
It said among the key categories of expenditure, private consumption and construction investment enjoyed modest growth whereas capital investment was little changed.
The report noted that weak exports did not bode well for manufacturing output.
In a monthly news conference on Nov 12, Bank of Korea Governor Lee Ju-yeol resisted calls for more policy easing, saying domestic demand would be solid enough to offset weak exports.