SEOUL, May 16 (Xinhua) -- South Korea's government on Friday saw an increased downward pressure on the Asian economy due to the U.S. tariffs imposition and a delayed recovery in domestic demand.
The Ministry of Economy and Finance said in its monthly report, called Green Book, that the South Korean economy recently had been under increased downward pressure on the back of the worsened external conditions, caused by the U.S. tariffs imposition.
The ministry noted that the economy faced a delayed recovery of consumption and construction investment as well as continued employment difficulties especially for vulnerable groups.
It added that concerns mounted over the global economy as the tariff imposition deteriorated the trade environment, and increased volatility in the global financial market.
Export grew 3.7 percent in April from a year earlier, but the daily average export declined 0.7 percent.
The number of jobs increased 194,000 in April from a year earlier, while the jobless rate fell 0.1 percentage point to 2.9 percent.
Consumer prices advanced 2.1 percent in April on a yearly basis after going up 2.1 percent in the previous month. ■