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Growing downside risks

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Economic recovery feared to slow down

A key economic indicator is raising concern that South Korea's economic recovery may slow down amid mounting domestic and overseas challenges. On Tuesday, Statistics Korea said the country's industrial output fell 1.9 percent in October from the previous month. The fall was the steepest since April 2020 when output declined 2 percent.

What's worrisome is that the manufacturing sector, the mainstay of the country's economic growth, has been on a downward march for four months in a row. Manufacturing output plunged 3.1 percent in October from September due mainly to a global supply chains bottleneck. The falling number of working days on the back of more holidays also contributed to the fall in production.

Economy and Finance Minister........

© The Korea Times

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