Government diagnoses modest economic recovery..."Recovering domestic demand" is out of the question.

The government recently diagnosed our economy as a "mild economic recovery."

In the November issue of the so-called "recent economic trends," the Ministry of Strategy and Finance evaluated that the Korean economy has been recovering slowly recently, but there are uncertainties due to changes in internal and external conditions.

Compared to the previous month, the expression "economic recovery trend" has been adjusted to "mild economic recovery."

In addition, the expression "signs of recovery in domestic demand," which has been included in the economic diagnosis since May, has disappeared and the expression "export-oriented recovery" has been removed.

However, the government explained that the expression "mild economic recovery" includes all detailed factors such as exports and consumption, and that the expression was not deleted due to rapid changes in the atmosphere.

At the same time, the global economy is recovering overall, but uncertainties such as geopolitical risks and possible changes in the trade environment have increased.

This is interpreted as reflecting concerns over the global economic shock caused by the spread of protectionism as former U.S. President Trump regained power.