SEOUL, Nov. 14 (Xinhua) -- South Korea's government on Friday saw signs that the Asian economy was emerging from a slump in the first half, driven by improved consumption and a semiconductor boom.
The Ministry of Economy and Finance said in its monthly report, called Green Book, that the South Korean economy recently showed signs of emerging from the first-half slowdown, driven by domestic demand improvement and a boom in the semiconductor sector.
The ministry, however, noted that uncertainties remained, such as ongoing employment difficulties, especially among vulnerable groups, slow recovery in construction investment, and the impact of U.S. tariff impositions.
It said the global economy could face continued volatility in the global financial market and sluggishness in trade and growth amid the worsened trade environment, vowing to put in more efforts for enhanced domestic demand and expand potential growth through projects on artificial intelligence and other innovative sectors.
Retail sales fell 0.1 percent in September from a month earlier, but facility investment jumped 12.7 percent.
The consumer sentiment index slipped 0.3 points over the month to 109.8 in October, but the index hovered above the long-term average of 100.
As part of its supplementary budget plan, the government began providing cash handouts to all people in July to bolster the sagging private consumption.
The daily average export jumped 14.0 percent in October from a year earlier due to strong semiconductor demand.
The number of jobs increased by 193,000 in October from a year earlier, after expanding by 312,000 in the previous month.
Consumer prices gained 2.4 percent in October on a yearly basis, higher than an increase of 2.1 percent in the prior month. ■
