SEOUL, March 15 (Xinhua) -- The South Korean government saw signs of a slowdown in consumption and construction investment for the second straight month in its economic report on Friday.
The Ministry of Economy and Finance said in its monthly report, called Green Book, that the South Korean economy recently saw continued employment growth and a recovery in manufacturing production and exports despite the flinching inflation slowdown.
The ministry, however, noted that the pace of recovery varied across economic sectors due to the private consumption slump and the sluggish construction investment.
It cautioned that uncertainties remained such as geopolitical risks in Europe and the Middle East and the possibility of supply chain disruption despite the lasting expectations for the global economy's soft landing and the improved IT industry.
The country's export rose 4.8 percent in February from a year earlier, keeping an upward trend for the fifth successive month.
Production in the mining and manufacturing sector jumped 12.9 percent in January on a yearly basis, but retail sale, which reflects private consumption, retreated 3.4 percent.
Construction investment soared 17.6 percent in January from a year ago, but the double-digit growth was expected to be temporary amid the faltering housing market, affected by the still high-interest rate.
During the October-December quarter of last year, construction investment tumbled 4.5 percent compared with the previous quarter.
The number of jobs increased 329,000 in February from a year earlier, while the jobless rate added 0.1 percentage point to 3.2 percent.
Consumer prices gained 3.1 percent in February from a year ago after going up 2.8 percent in the previous month. ■
