ID :
205676
Wed, 09/07/2011 - 06:52
Auther :
Shortlink :
https://oananews.org//node/205676
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Economy faces inflation, external angst: think tank
SEOUL, Sept. 7 (Yonhap) -- South Korea's economy is faced with accelerating inflation and rising external uncertainties, a state-run think tank said Wednesday.
"The Korean economy, amid growing external uncertainties and rising inflation, grew at a weak pace particularly in the mining and production and investment," the Korea Development Institute (KDI) said in its monthly report on economic conditions.
The assessment is in line with the government's view on the latest economic situation. On Tuesday, the finance ministry said that the nation's economy is confronted with rising inflation and uncertainties stemming from worries over a global slowdown.
Last month, the nation's consumer price index, a major gauge of inflation, jumped 5.3 percent from a year earlier, the largest gain in three years. Its industrial output also grew at the slowest pace in 10 months in July.
The KDI said that the global economy remains on the recovery track thanks to fast growth in emerging markets. But it also noted that uncertainties are deepening as chances are growing for slump in major advanced economies such as the U.S., European countries and Japan.
Financial market volatility also intensified due to concerns over the ongoing global fiscal crisis and slowing economic recovery, the think tank added.
"The Korean economy, amid growing external uncertainties and rising inflation, grew at a weak pace particularly in the mining and production and investment," the Korea Development Institute (KDI) said in its monthly report on economic conditions.
The assessment is in line with the government's view on the latest economic situation. On Tuesday, the finance ministry said that the nation's economy is confronted with rising inflation and uncertainties stemming from worries over a global slowdown.
Last month, the nation's consumer price index, a major gauge of inflation, jumped 5.3 percent from a year earlier, the largest gain in three years. Its industrial output also grew at the slowest pace in 10 months in July.
The KDI said that the global economy remains on the recovery track thanks to fast growth in emerging markets. But it also noted that uncertainties are deepening as chances are growing for slump in major advanced economies such as the U.S., European countries and Japan.
Financial market volatility also intensified due to concerns over the ongoing global fiscal crisis and slowing economic recovery, the think tank added.
