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Finance Ministry omits word "sluggish" from its monthly green book Updated: 2019-11-15 16:04:57 KST


The Ministry of Economy and Finance has omitted the word "sluggish" from its monthly Green Book report for the first time in eight months.
It said in the third quarter, the Korean economy has been supported by growth in production and consumption, but that a decrease in exports and construction investment hinders growth.
Manufacturing production went up two percent on-month in September while services production went down 1.two percent.
Facilities investment increased near three percent on-month in September thanks to higher investment in machinery and equipment.
But construction investment fell by about three percent.
Exports continued to fall for the 11th consecutive month in October on slowing global trade and falling chip prices, dropping near 15 percent on-year.
In its November monthly Green Book, the finance ministry said the job market is on a recovery path, with the number of newly added jobs on the rise.
Korea added 419-thousand new jobs on-year in October, adding more than 300-thousand new jobs for the third consecutive month thanks to new jobs in health and social welfare for those above 60.
The unemployment rate also fell to three percent.
Externally, the finance ministry said the global economy is slowing down with ongoing uncertainties over the U.S.-China trade dispute and Japan's export restrictions on South Korea.
It said it will strive to manage risks including Japan's export curbs, and use its resources to help boost private consumption.
Kim Hyesung, Arirang News.
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