A think tank says that the South Korean economy remains on a steady growth track thanks to improving investments and exports. However, the recovery trend is being dragged down by sluggish private consumption and a stagnant manufacturing industry.
 
The Korea Development Institute said Thursday in an economic trend report for this month that investment in construction and equipment has increased at a high rate, in particular investment in machinery and transportation equipment in February, compared to the same month last year.
 
Large-scale investment by some industries, including the semiconductor sector, was assessed to have led the growth.
 
Investment both in construction and engineering is increasing. However, some leading indicators are not good, such as an eleven-point-six percent decrease in housing construction permits.
 
The state-run think tank said the nation’s exports are also growing amid a global economic recovery.