[앵커]
As prices remain high and exports remain sluggish, the government has diagnosed that the economy has slowed for the seventh month.
Concerns about an economic downturn are growing as consumption, which has served to support the domestic economy, has also been sluggish due to the Itaewon disaster.
This is the reporter Lee Hyeong-won.
[기자]
The government has been concerned about an economic slowdown for the seventh month.
Consumer prices have remained at a high level of 5% since last May and exports, which have declined for two consecutive months, have accentuated the decline.
[이승한 / 기획재정부 경제분석과장 : 11월 무역수지는 마이너스 70.1억 달러 적자를 기록하면서 올해 4월 이후 8개월 연속 무역 적자가 지속하는 모습입니다.]
Domestic demand, which supported the economy, also slowed down its recovery.
Services output fell 0.8% in October, while retail sales fell 0.2%, a two-month decline.
Notably, last month, the increase in domestic credit card approval slowed down, and department store sales also fell to the 1% level.
Consumer sentiment also continued to decline, falling 2.3 points from October.
Consumer sentiment eased in the aftermath of the Itaewon disaster.
[이승한 / 기획재정부 경제분석과장 : 국민 애도 기간이라든지 또는 그 직후 일정 기간에는 되도록 (약속을) 취소하거나 연기하거나 뭐 이런 식으로 해서 저녁 회식도 굉장히 많이 줄었었고, (지자체 차원의) 야외 행사도 줄다 보니깐….]
With various economic indicators deteriorating in this way, the government predicted that next year’s economic situation would become more difficult.
In fact, the economic growth rate for next year projected by major domestic and foreign institutions, such as the Bank of Korea and the Organization for Economic Co-operation and Development, is only 1%.
This is YTN Lee Hyeong-won.
YTN Hyungwon Lee ([email protected])
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