S. Korean gov’t sees eased economic downturn for 2nd month

SEOUL, Sept. 15– The South Korean government on Friday saw eased economic downturn for the second straight month due to alleviated export slump and improved consumer sentiment. The Ministry of Economy and Finance said in its monthly report, called Green Book, that the South Korean economy’s slowdown moderated partially on the back of the eased export…

SEOUL, Sept. 15 (Xinhua) — The South Korean government on Friday saw eased economic downturn for the second straight month due to alleviated export slump and improved consumer sentiment.

The Ministry of Economy and Finance said in its monthly report, called Green Book, that the South Korean economy’s slowdown moderated partially on the back of the eased export sluggishness and the enhanced consumer sentiment and employment.

It noted that the headline inflation has been on the decline despite the monthly volatility, caused by higher global crude oil prices and seasonal factors.

Export shrank 8.4 percent in August from a year earlier after dropping 16.4 percent in the previous month.

Sentiment among consumers over economic situation stayed in positive territory last month, but business sentiment worsened amid lingering worry about the year’s second-half earnings.

The number of jobs increased 268,000 in August from a year earlier, while jobless rate slipped 0.1 percentage point to 2.0 percent last month.

Consumer prices gained 3.4 percent in August on a yearly basis after rising 2.3 percent in the previous month. Enditem