A state think tank says that the South Korean economy is maintaining a modest pace of growth, but slow exports are restricting active recovery.
 
The Korea Development Institute (KDI) said on Sunday in its monthly report that the country is witnessing a modest recovery in domestic consumption thanks to the government’s stimulus measures, including the lowering of excise taxes.
 
The retails sales index surged eight-point-three percent in October year-on-year, while the consumer sentiment index increased by one point last month.
 
The KDI, however, said that weak exports are weighing on economic recovery. The country’s exports shrank four-point-seven percent last month from a year ago.