The government diagnosed that uncertainty in the real economy such as domestic demand is increasing due to the re-proliferation of Corona 19.
In the’Recent Economic Trends’ published today (18), the Ministry of Strategy and Finance said, “The Korean economy is continuing a strong recovery in exports, but since mid-November, the real economy has been focused on domestic demand due to the re-proliferation of Corona 19 and strengthening distance. Uncertainty is expanding.”
The Ministry of Science and Technology mentioned in October and November that “real economy uncertainty is continuing”, but this month, it raised the level of diagnosis by saying, “real economy uncertainty is expanding.”
The Ministry of Science and Technology evaluated that “externally, there is high uncertainty, such as the continued spread of Corona 19 in major countries and the improvement of physical indicators slightly weakened due to strengthened containment measures, but expectations for economic recovery are spreading due to recent vaccine approvals and vaccinations.”
Major consumption indicators declined last month as part of the impact of the re-proliferation of Corona 19 and measures to strengthen social distancing, as diagnosed by the Ministry of Information and Transportation
Compared to the same month last year, department store sales decreased by 3.9% and discount store sales decreased by 4.3%.
Card domestic approval amount increased by 3.8%, but the growth rate was the lowest since August.
Chinese tourists to Korea fell 98.1%.
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