South Korea is showing signs of an economic slowdown, as its manufacturing industry is losing momentum in the wake of slowing exports.
“Investment sustained high growth (in November), but exports tumbled on lackluster external demand, implying that economic activity is losing steam,” the Korea Development Institute (KDI) said in its monthly report.
South Korea’s finance ministry said last month Asia’s No. 4 economy is anticipated to see a 4.5 percent fall in exports this year on a global economic slowdown and weak chip prices, Yonhap News Agency reported.
“On the production side, despite the rebound in automobiles, the manufacturing industry exhibited a decline led by increased losses in most items, and the growth in the service industry moderated,” it added.
Industrial production edged up 0.1 per cent on-month in November, turning…
