Doubts linger about S. Korea

China Daily (Hong Kong) - - BUSINESS -

South Korea’s growth mo­men­tum is still not solid, in the wake of a correction in pro­duc­tion that off­set re­cov­er­ing ex­ports and con­sump­tion, a govern­ment re­port showed on Tues­day. “Ex­ports and in­vest­ment con­tin­ued to grow thanks to global eco­nomic re­cov­ery, while pri­vate con­sump­tion’s slump slowed,” the fi­nance min­istry said in its monthly eco­nomic as­sess­ment re­port called Green Book. “But the re­cov­er­ing trend is not solid given the pro­duc­tion correction in the min­ing and man­u­fac­tur­ing in­dus­tries,” Ex­ports, which ac­count for about half of the econ­omy, jumped 19.5 per­cent in July from a year ear­lier, lead­ing to higher growth for the ninth con­sec­u­tive month.

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