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KDI: Recovery in Manufacturing Weakens due to Supply Chain Issues

Written: 2021-11-07 13:00:20Updated: 2021-11-07 20:53:58

KDI: Recovery in Manufacturing Weakens due to Supply Chain Issues

Photo : YONHAP News

A state-run think tank has assessed that the recovery in manufacturing has weakened due to disruptions in global supply chains.

The Korea Development Institute (KDI) made the assessment in its November report released on Sunday, saying that the nation's economic recovery momentum has weakened recently due to external factors.

The KDI said that the service industry has somewhat rebounded due to relaxed virus curbs, but the economic recovery is weak as global supply chains issues and rising prices of raw materials dampened the recovery in the manufacturing industry.

Last month, the KDI said that the economy’s recovery was slowing down due to the decline in the in-service industry and "downside risks" are growing with rising global uncertainties.

The latest report, however, did not use the expressions of "slowing down" and "downside risks."

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