S. Korean gov’t sees modest economic recovery

SEOUL, Nov. 15 (Xinhua) — South Korea’s finance ministry saw a modest economic recovery Friday, despite lingering uncertainties at home and abroad.
The Ministry of Economy and Finance said in its monthly report, called Green Book, that the Asian economy recently maintained a trend of modest recovery amid stable inflation, though uncertainties remained at home and abroad.
The ministry noted that the global economy showed an overall recovery, but it cautioned that uncertainty expanded on the back of possible changes in the trade environment amid lingering geopolitical risks in the Middle East.
Exports increased 4.6 percent in October from a year earlier, continuing to grow for the 13th successive month.
Production in the mining and manufacturing industry fell 1.3 percent in September from a year earlier, while output in the service sector shrank 0.2 percent in the cited period.
Retail sales, which reflect private consumption, went down 2.2 percent in September on a yearly basis, but facility investment advanced 6.1 percent in the cited month.
The number of jobs added 83,000 in October from a year earlier, lower than an increase of 144,000 in the previous month.
Consumer prices climbed 1.3 percent in October on a yearly basis after rising 1.6 percent in September. ■