KDI 경제동향

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KDI 경제동향 12. 3

Contents 주요경제지표 Major Economic Indicators 요약및평가 Summary and Assessment 1. 국내총생산 1-1. 경제활동별국내총생산 (5 년불변가격 ) 3 GDP by Economic Activity (at 5 Constant Prices) 1-2. 국내총생산에대한지출 (5 년불변가격 ) 5 Expenditure on GDP (at 5 Constant Prices) 1-3. 국내총소득및국민총소득 (5 년불변가격 ) 9 Gross Domestic Income and Gross National Income (at 5 Constant Prices) 1-4. 경제활동별국내총생산 ( 경상가격 ) 11 GDP by Economic Activity (at Current Prices) 1-5. 국내총생산에대한지출 ( 경상가격 ) 13 Expenditure on GDP (at Current Prices) 2. 경기 2-1. 광공업 서비스업생산지수및경기종합지수 17 Industrial Production, Service Production, and Composite Indices of Business Indicators 2-2. 산업별, 공업구조별광공업생산 19 Industrial Production by Industry and Industrial Structure 2-3. 생산자제품출하및재고지수 21 Shipment and Inventory Indices 2-4. 업종별서비스생산 23 Service Production Index by Type 2-5. 기업경기실사지수 25 Business Survey Index 3. 소비 3-1. 민간소비 27 Private Consumption 3-2. 소매판매액지수 29 Retail Sales Index 3-3. 소비재출하및소비재수입 31 Consumer Goods Shipment Index and Consumer Goods Import 3-4. 소비자동향조사 33 Consumer Survey Index (CSI)

4. 설비투자 4-1. 설비투자와설비투자지수 35 Equipment Investment and Index of Equipment Investment 4-2. 내수용자본재수입액과기계류수입액 37 Import of Capital Goods for Domestic Demand and Machinery Import 4-3. 국내기계수주 39 Machinery Orders Received 5. 건설투자 5-1. 용도별건설투자 41 Construction Investment 5-2. 건설기성액 43 Value of Construction Completed 5-3. 국내건설수주 45 Construction Orders Received 5-4. 건축허가면적및건축착공면적 47 Building Construction Permits and Building Construction Initiated 5-5. 주택건설및토지거래 49 Housing Construction and Real Estate Transaction 6. 대외거래 6-1. 상품별수출 51 Exports by Commodity 6-2. 주요지역별수출 53 Exports by Region 6-3. 용도별수입 55 Imports by Usage 6-4. 지역별수입 57 Imports by Region 6-5. 수출입단가 59 Unit Value Indices of Exports and Imports 6-6. 경상수지 61 Current Account 6-7. 자본 금융계정 63 Capital and Financial Account

7. 노동시장 7-1. 고용 65 Employment 7-2. 산업별취업자 67 Employment by Industry 7-3. 종사상지위별및취업시간별취업자 69 Employment by Status of Worker / by Working Hours 7-4. 임금상승률 (Ⅰ) 71 Wage Growth Rate (Ⅰ) 7-5. 임금상승률 (Ⅱ) 73 Wage Growth Rate (Ⅱ) 8. 물가 8-1. 소비자물가 75 Consumer Price Indices 8-2. 생산자및수출입물가 77 Producer Price and Export & Import Prices 8-3. 부동산가격 79 Real Estate Price Indices 9. 금융시장 9-1. 금리 81 Market Interest Rates 9-2. 주가 83 Stock Price 9-3. 통화량 85 Monetary Aggregates 9-4. 금융기관수신 87 Deposits in Financial Institutions 9-5. 금융기관여신및자산운용 89 Loans and Asset Management of Financial Institutions 9-6. 가계신용 91 Credit to Households

1. 재정 1-1. 통합재정 93 Consolidated Public Sector Finance 1-2. 수입및지출 / 순융자 95 Revenue and Expenditure / Net Lending 1-3. 국가채무 97 Government Debt 11. 세계경제동향 11-1. 미국의경제동향 99 Economic Indicators of U.S.A 11-2. EURO 의경제동향 11 Economic Indicators of EURO 11-3. 일본의경제동향 13 Economic Indicators of Japan 11-4. 중국의경제동향 15 Economic Indicators of China 11-5. 주요국의환율 17 Exchange Rates of Major Currencies 11-6. 주요국의금리 19 Major International Interest Rates 11-7. 원유및원자재가격 111 Crude Oil and Commodity Prices 12. 세계경제전망 12-1. 주요선진국의경제전망 113 Economic Outlook for Major Advanced Economies 12-2. NIEs 와 BRICs 의경제전망 115 Economic Outlook for NIEs and BRICs 12-3. 세계교역량및교역조건, 원유및원자재가격전망 117 World Trade Volume & Terms of Trade, Crude Oil & Commodity Price Forecast 12-4. 국제환율및금리전망 119 International Interest and Exchange Rate Forecast

주요경제지표 Major Economic Indicators ( 전년동기대비증가율, % / Year-on-Year % Change) 1 11 11 12 12 1 2 전산업생산 All Industry Production 광공업생산 Industrial Production 서비스업생산 Service Production 소매판매액 Retail Sales Index 설비투자지수 Index of Equipment Investment 건설기성액 ( 불변 ) Value of Construction Completed (Constant Price) 수출 ( 통관 ) Exports (f.o.b.) 수입 ( 통관 ) Imports (c.i.f.) 무역수지 (1 억달러 ) Balance of Trade (Billion Dollar) 실업률 Unemployment Rate 취업자수 Number of Employed 소비자물가 Consumer Price 국고채 3-year Treasury Bonds 종합주가지수 KOSPI 원 / 달러환율 Won/Dollar Exchange Rate OECD 경기선행지수 OECD Composite Leading Indicator 유가 ( 두바이, 달러 / 배럴 ) Oil Prices (Dubai, US$/bbl) 7.1 3.8 4.5 3.7 4.1 3.1 1.6.1-16.3 6.9 1.4 7.1 5.3 5. 2.8-2. - 3.9 3.3 2.8 3.2 4.5 2.7 1.6.9-6.7 4.3 5.4 5.7 4.7 1.9 2..9-24.2.7 5.4 5.7-3.1-4.8-1.1 7.8 - -3.3-6.7-12.6-6.6-8.4 -.5 1.8-6.4-28.3 19. 29.6 18.6 21.4 9. 8.2-7. 22.7 31.6 23.3 26.3 27.1 27.7 13.4 13.6 3.3 23.6 41.2 3.8 7. 8.3 6.3 9.2 2.3-2. 2.2 3.7 3.4 4.2 3.4 3.1 2.9 3. 3.5-1.4 1.7 1.8 1.7 1.5 2. 1.9 2.3-3. 4. 3.8 4. 4.3 4. 4.2 3.4 3.1 3.38 3.34 3.73 3.76 3.55 3.34 3.34 3.38 3.45 2,51 1,826 2,17 2,111 1,77 1,826 1,826 1,956 2,3 1,138.9 1,153.3 1,17.2 1,78.1 1,179.5 1,153.3 1,153.3 1,125. 1,126.5 6.7 -.5 1.2.1-1.2-2. -2.1 - - 78.1 16. 1.4 11.4 17. 15.6 15.5 19.5 116.2

요약및평가 최근우리경제는경기둔화추세가다소완만해진가운데, 물가상승세도점차 안정되는모습 1월중전산업생산은광공업및서비스업의생산이증가하면서둔화추세가다소완만해진모습 (-.7%), 3.3% ( 2-1 ) ( -2.4%), (11.2%), (5.3%) (9.6%) -2.% (-.3%) 1.1% ( 2-1 ) 1 ( -1.6%), (1.9%), (1.5%), (2.9%) 16 15 14 13 1 11 1 9 광공업생산및서비스업생산 계절조정 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 광공업생산지수 ( 좌 ) 서비스업생산지수 ( 우 ) (5=1) 13 125 1 115 11 15 1

(77.%) 8.6% ( 2-1 ) 최근의생산 재고순환 (1) 광공업전체 ( 반도체 부품제외 ) 3 1 (2) 반도체 부품 2 생산지수증가율 (%) 1.I 1.II 1 9.IV 11.I 1.III 1.IV 11.II 11.III 9.III 11.IV 12.I -1 9.II 8.IV 9.I - - -1 1 재고지수증가율 (%) 생산지수증가율 (%) 8 6 4-9.II 9.III 9.I 11.II 9.IV 8.IV 1.I 1.III 11.I 1.IV 11.III -4-6 -4-4 6 8 1 재고지수증가율 (%) 11.IV 1.II 12.I 동행지수와선행지수 16 ( 기준 =1) (%) 15 13 12 9 1 6 97 3 94-3 91-6 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 동행지수순환변동치 ( 좌 ) 선행지수전년동월비 ( 우 )

1월중민간소비는내구재가증가하였으나, 전반적으로둔화세가지속되는모습 (2.%).9% ( 3-2 ) (1.9%) (1.%), (.%) (5.5%) 1.6%, 3.5%, 2.4% 2 (98) 2p 1 (65) 3p 68, (76) 4p 8 소매판매액지수와소비자심리지수 ( 전년동기대비,%) ( 기준치 = 1) 15 14 3 1 5-5 -1 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 12 13 1 11 1 9 8 7 소매판매액지수 ( 좌 ) 소비자심리지수 ( 우 )

1월중설비투자는기존의부진에서다소개선되었으며, 건설투자는건설기성이감소하였으나수주및착공면적의개선추이는지속 1, ( 4-1 ) (-1.1%) 7.8% (-9.6%) -2.6%, ( 5-2 ) -6.4% 1.8% 4 (42.8%) (65.3%) 설비투자지수및건설기성 개월이동평균 4 ( 전년동기대비, %, 3 개월이동평균 ) 3 1-1 - -3 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 설비투자지수건설기성액

2월중수출과수입이조업일수증가에주로기인하여모두큰폭으로증가한가운데, 무역수지는 22.억달러의흑자로전환 ( 4 ), (413 ) 472 ( 6-1 ),, 3.% (434 ) 45 ( 6-3 ) 1 월중국제수지 7.7 ( 6-6 ) 5, 27. 14.2 (-2.1 ) 1.3, 11.9 (4.9 ) 35. 12.2 ( 6-7 ) 8.4.1, 24.1 77.4

1월중노동시장은취업자증가세가확대되는등양호한고용여건이지속되는모습 53 6 (2.3%) (44 1 ) ( 7-1 ) (53 4, 3.3%), (8 6, 5.3%), (3 6, 3.5%), (-11 4, -2.8%) ( 7-2 ) ( ) 59.1%.1%p, ( ).1%p 3.2% ( 7-1 ) 실업률및취업자증감 ( 전년동기대비, 천명 ) 6 (%) 5.5 45 5. 6 3 15 4.5 4. 3.5-15 3. -3 2.5 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 12 취업자증감 ( 좌 ) 실업률 ( 우 )

2월중소비자물가상승률은상품물가및서비스물가의상승세가둔화되면서전월 (3.4%) 보다하락한 3.1% 를기록, (4.4%) 3.9% ( 8-1 ) (-12.%) (3.6%).3% (4.3%) 4.7% (2.7%) 2.5% (3.2%) 2.5%, ( 8-3 ).2%, (.3%).4% 7 소비자물가추이및부문별기여도 7 6 5 농축수산물공업제품서비스 전기 수도 가스소비자물가근원물가 ( 전년동기대비, %, %p) 4 3 2 1-1 1 2 3 4 5 6 7 8 9 1 11 12 1 2 11 12

2월중국내금융시장은지속적인외국인투자자금유입등으로주가가크게상승하는가운데금리는소폭상승 / 1,126.5 74.5p 2,3.3(2 ) ( 9-2 ) ( 9-1 ) 2 (3.38%) 3.45% AA- BBB- 4.26%, 1.1% 2bp, 1bp 환율및주가 8 2,3 2, 2,1 2, 1,9 1,8 1,7 1,25 1, 1,15 1,1 1,5 1, 1,6 2 3 4 5 6 7 8 9 1 11 12 1 2 11 12 KOSPI( 좌축 ) 원 / 달러 ( 우축 ) 95

세계경제는유로지역의경기부진이지속되고국제유가와관련된불확실성이다소확대되었으나, 선진국의일부지표들은개선되는모습, 주요선진국의실업률 주요선진국의제조업심리지수 12 (%) 65 ( 기준 =5) 1 6 55 8 5 6 45 4 4 35 2 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 3 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 미국유로일본 미국 ISM 제조업유로제조업 PMI 9, 주요신흥시장국의소매판매 주요신흥시장국의수출 4 ( 전년동기대비, %) 1 ( 전년동기대비, %) 8 3 6 4 1 - -4-1 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11-6 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 중국브라질러시아 중국인도대만

, 미국의생산과소매판매 미국의소비자신뢰지수와주택착공 1 ( 전년동기대비, %) 15 8 (1985=1) ( 전년동기대비, %) 6 5 1 7 4 5 6-5 5-1 -5 4 - -15-1 3-4 - 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11-15 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11-6 산업생산 ( 좌 ) 소매판매 ( 우 ) 소비자신뢰지수 ( 좌 ) 주택착공 ( 우 ) 1 4/4, 유로지역주요국의경제성장률 유로지역의신규주문과경기체감지수.8 ( 전기대비, %) 3 ( 전년동기대비, %) ( 기준 =1) 11.6 1.4 1.2 9-1 8 -.2 -.4 11 3/4 - -3 7 -.6 -.8 11 4/4 유로독일프랑스이탈리아스페인영국 -4 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 신규주문 ( 좌 ) 경기체감지수 ( 우 ) 6

, 일본의산업생산과소매판매 일본의수출입과무역수지 4 ( 전년동기대비, %) 6 1,5 ( 십억엔 ) ( 전년동기대비, %) 6 3 1, 4 - -3 5-5 -1, - -4-6 -1,5-4 -6 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11-9 -2, 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11-6 산업생산 ( 좌 ) 소매판매 ( 우 ) 무역수지 ( 좌 ) 수출 ( 우 ) 수입 ( 우 ), 11 중국의산업생산및고정자산투자 중국의제조업 와경기선행지수 ( 전년동기대비, %) 36 65 ( 기준 =5) ( 전년동기대비, %) 12 17 14 32 6 55 8 4 28 5 11 8 24 45 4-4 -8 5 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 35 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11-12 산업생산 ( 좌 ) 고정자산투자 ( 우 ) 제조업 PMI 지수 ( 좌 ) 경기선행지수 ( 우 )

, 유가및원자재가격 주요국의물가 14 ( 달러 / 배럴 ) 3,5 1 ( 전년동기대비, %) 1 8 1 3, 6 8 2,5 4 2 6 2, 4-2 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 1,5-4 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 Dubai( 좌 ) 로이터 ( 우 ) 미국유로중국 12,. 주요투자은행의 년도경제성장률전망 4 (%) 9.5 3 9. 2 8.5 1 8. -1 1 2 3 4 5 6 7 8 9 1 11 12 1 2 11 12 미국 ( 좌 ) 유로 ( 좌 ) 일본 ( 좌 ) 중국 ( 우 ) 7.5

국제금융시장은일부실물경제지표가개선되고유로지역국가채무에대한우려도완화되면서안정적인모습을유지 CDS, 미국의국채수익률및 지수 주요국의 프리미엄 4. (%, 5 일이동평균 ) (5 일이동평균 ) 45 6 (bp) 3.6 4 5 3.2 35 4 2.8 3 25 3 2.4 2. 15 1 1.6 1 12 3 6 9 12 3 6 9 12 9 1 11 12 국채수익률 ( 좌 ) VIX( 우 ) 12 3 6 9 12 3 6 9 12 9 1 11 12 스페인이탈리아프랑스 13, 주요국의주가변화율과달러화대비통화절상률 월말현재 전월말대비 15 (%) 1 1.5 1. 5 4.1 3.9 2.4 5.9.5 3.7 3.8 -.1-5 -5.1-1 미국유로일본중국러시아한국 주가변화율통화절상률

Summary and Assessment The Korean economy slows down at a moderating pace and the inflation appears to stabilize gradually. The production of whole industry in January slows down at a moderating pace, as the production of mining & manufacturing and service industries increased. The mining & manufacturing production recorded a month-on-month 3.3% growth, a turnaround from the fall in the previous month (-.7%), influenced by the production increase in most sectors (Table 2-1). 14 By sector, the production of semiconductor (-2.4% on a month-on-month) decreased, whereas that of most sectors, particularly audio, visual & communications (11.2%), automobile (5.3%) and machinery & equipment (9.6%), increased. The year-on-year production registered -2.% growth rate, influenced by the base effect. 16 15 14 13 1 11 1 9 The production of service industry recorded a 1.1% growth rate, a turnaround from the fall (-.3%) in the previous month (Table 2-1). By sector, the production of real estate & leasing (-1.6%) decreased, whereas that of wholesale & retail trade (1.9%), educational services (1.5%) and publishing & motion pictures (2.9%) increased. (5=1) 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 13 125 1 115 11 15 1 Industrial Production Index(left) Service Production Index(right)

The average capacity utilization rate in manufacturing recorded 8.6%, sharply up from the previous month (77.%). The production-inventory cycle shows that except for semiconductor parts, the production growth slowed down and the inventory growth showed a slight adjustment (Table 2-1). (1) Mining & Manufacturing (excluding semiconductor parts) (2) Semiconductor parts 3 1 Production Growth(%) 1.I 1.II 1 1.III 9.IV 1.IV 11.I 11.II 11.III 9.III 11.IV 12.I -1 9.II 9.I - - -1 1 Production Growth(%) 8 6 4-9.II 9.III 9.I 9.IV 1.I 11.I 1.IV 1.III 11.II 11.III 1.II 11.IV 12.I -4-6 -4-4 6 8 1 Inventory Growth(%) Inventory Growth(%) 15 (Base=1) 16 13 1 97 94 91 Both the cyclical component of coincident index and the growth rate of year-on-year monthly leading index recorded a slight fall from the previous month. 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 Cyclical Component of Coincident Composite Index(left) 12-month Smoothed Change in Leading Composite Index(right) (%) 15 12 9 6 3-3 -6

Private consumption in January showed a large increase in the sales of durable goods, but the overall slowdown trend appears to continue. The growth rate of retail sales index recorded.9%, down from the previous month (2.%) (Table 3-2). By sector, the sales of durable goods, particularly computer & communications devices, rose by 1.9%, compared to the previous month (1.%), but those of quasi-durable goods recorded a.% growth rate, significantly down from the previous month (5.5%). On a seasonally adjusted month-on-month basis, the sales of durable goods rose by 1.6%, whereas those of quasi and non-durable goods decreased by 3.5% and 2.4%, respectively. The consumer sentiment index in February reached the benchmark level (1), up by 2p from the previous month (98). 16 The estimation of current economy recorded 68, up by 3p from the previous month (65), and the projection for future economy recorded 8, up by 4p from the previous month (76). (Year-on-Year, % change) (Base = 1) 15 14 1 5-5 -1 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 12 13 1 11 1 9 8 7 Retail Sales Index (left) Consumer Sentiment Index (right)

In January, the growth of equipment investment showed a slight improvement, while construction investment showed a fall in the value of construction completed and a continuing improvement in the construction orders received and the construction initiated. The equipment investment in January showed a relatively high increment mostly by machinery, and the leading indicators showed a smaller decrement (Table 4-1). The equipment investment index recorded an increase of 7.8%, up from previous month (-1.1%), due to the increase in machinery, although the investment in transportation equipment decreased. The domestic machinery orders received registered a growth rate of -2.6%, a smaller decrement than the previous month (-9.6%), mainly led by public sector. The value of construction completed showed a relatively large fall, although the construction orders received and construction initiated continued to rise, particularly in the housing sector (Table 5-2). The value of construction recorded a growth rate of -6.4% influenced by the reduced number of working days due to Chinese New Year holidays, a turnaround from the increment of 1.8% in the previous month. The construction orders received (42.8%) and construction initiated (65.3%) continued the recent improvement pace, influenced by a significant rise in the housing orders received and the residential unit start-ups. 17 4 (Year-on-Year, % change, 3MA) 3 1-1 - -3 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 Index of Equipment Investment Value of Construction Completed

The trade balance in February turned to a surplus of $2. billion, while both exports and imports rose sharply due to the increased number of working days. Exports recorded $47.2 billion, sharply up from the previous month ($41.3 billion), as exports of major items rose significantly due to the increased number of working days (4 additional days on a year-on-year basis) (Table 6-1). Influenced by the increased number of working days, exports of most major items, particularly automobile, steel products, petroleum products and general machinery, increased by a large amount. Exports per workday recorded a 3.% growth rate, continuing the recent moderate slowdown. Imports recorded $45. billion, slightly up from the previous month ($43.4 billion) influenced by the increase in the import of raw materials due to the increased number of working days and oil price hikes (Table 6-3). 18 Current account recorded a deficit of $77 million, mainly influenced by goods account turning to a deficit due to effects of holiday factors (Table 6-6). Goods account registered a deficit of $1.42 billion, a turnaround from the surplus of $2.7 billion in the previous month, as both exports and imports decreased sharply due to seasonal factors such as the Chinese New Year holiday. Services account recorded a deficit of $13 million, similar to the previous month (deficit of $21 million), whereas the primary income account registered a surplus of $1.19 billion, sharply up from the previous month ($49 million), influenced by the improvement in compensation income account. Financial account recorded a net inflow of $1.22 billion, a turnaround from the net outflow of $3.5 billion in the previous month (Table 6-7). Direct investment account recorded a net outflow of $2.1 billion, up from the net outflow of $84 million in the previous month due to foreign investors turning to net retrieval. Portfolio investment account recorded a net inflow of $7.74 billion, a turnaround from the net outflow of $2.41 billion in the previous month, as stock and bond investment by foreign investors turned to a net inflow.

The labor market in January saw a larger increment in the number of employed, reflecting sound employment conditions. The number of employed recorded an increase of 536, (2.3%), a larger increment than the previous month (441,) (Table 7-1). By industry, the service, construction and agricultural, forestry & fishery showed a continued rise in the number of employed with 534, (3.3%), 86, (5.3%) and 36, (3.5%), respectively, whereas the manufacturing industry showed a continuing decline (-114,, -2.8%) (Table 7-2). The seasonally adjusted rate of employment registered 59.1%, down by.1%p from the previous month, and that of the unemployment registered 3.2%, up by.1%p from the previous month (Table 7-1). (Year-on-Year Change, Thousand Persons) 6 45 (%) 5.5 5. 19 3 4.5 15 4. 3.5-15 3. -3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 12 2.5 Employed Persons(left) Unemployment Rate(right)

The CPI inflation in February recorded a 3.1% growth rate, down from the previous month (3.4%), as the growth rates of goods and service prices slowed down. The growth rate of goods prices registered 3.9%, down from the previous month (4.4%), as the growth rate of agricultural, livestock, and fisheries product prices fell sharply despite the larger increment in the growth rate of industrial goods prices (Table 8-1). The price of agricultural, livestock, and fisheries products registered a.3% growth rate, down from the previous month (3.6%), influenced by the large fall in the price of livestock products (-12.%). The price of industrial goods registered a 4.7% growth rate, slightly up from the previous month (4.3%), mainly influenced by petroleum product prices. The growth rate of service prices registered 2.5%, slightly down from the previous month (2.7%), continuing the downward trend of the previous month. The core inflation growth registered 2.5%, a comparatively large fall from the previous month (3.2%). The growth of apartment purchase prices and Cheonsei prices continued the similar upward trend as the previous month (Table 8-3). The purchase price of apartments registered a month-on-month growth rate of.2% mainly in rural areas, and Cheonsei price of apartments registered a growth rate of.4%, slightly up from the previous month (.3%) mainly in rural areas as well. 7 6 5 Agricultural Manufacturing Service Electricity, water, and gas CPI Core CPI (Year-on-Year, %, %p) 4 3 2 1-1 1 2 3 4 5 6 7 8 9 1 11 12 1 2 11 12

During February, stock prices increased sharply, influenced by continuing inflow of foreign investment and interest rates rose slightly. The KRW/USD exchange rate registered 1,126.5 won, similar to the previous month, influenced by external uncertainties over oil price hike despite the inflow of foreign investment. The KOSPI rose to 3.3 as of end-february, up by 74.5p from the previous month, as foreigners continued their net purchase (Table 9-2). The interest rates rose slightly compared to the previous month, influenced by a strong upward trend in the stock market (Table 9-1). Government bond yields recorded 3.45% as of end-february, slightly up from the previous month (3.38%). AA- corporate bond yields recorded 4.26%, up by 2bp from the previous month, while BBB- corporate bond yields recorded 1.1%, down by 1bp from the previous month. 21 2,3 2, 2,1 2, 1,9 1,8 1,7 1,6 2 3 4 5 6 7 8 9 1 11 12 1 2 11 12 KOSPI (Left) \/US$(Right) 1,25 1, 1,15 1,1 1,5 1, 95

The global economy shows economic sluggishness in the euro area and slightly growing uncertainties over international oil prices, but some indicators of advanced economies appear to improve. Advanced economies show a partial improvement in the sentiment-related indicators and the US employment and housing sector, although the euro area still experiences economic sluggishness. 12 (%) 65 (Base=5) 1 6 55 8 5 6 45 4 4 35 22 2 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 U.S. Euro Japan 3 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 U.S. ISM Euro PMI Emerging market economies maintained the upward momentum in main domestic demand indicators such as consumption, but the pace of growth is gradually moderating due to the current sluggishness in exports affected by the global economic slowdown. 4 (Year-on-Year % Change) 1 (Year-on-Year % Change) 3 8 6 4 1 - -4-1 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11-6 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 China Brazil Russia China India Taiwan

The U.S. economy maintains a modest pace of recovery influenced by the improvement in employment and housing sector, although some economic indicators such as production showed a decline in the pace of growth. 1 (Year-on-Year % Change) 15 8 (1985=1) (Year-on-Year % Change) 6 5 1 7 4 5 6-5 5-1 -5 4 - -15-1 3-4 - 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11-15 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11-6 Industrial production(left) Retail Sales(right) Consumer Confidence(left) Housing Starts(right) In the euro area, sentiment-related indicators improved partially as concerns over the financial market relaxed, but the growth rate for the fourth quarter of 11 turned to decrease, suggesting a continuing economic sluggishness. 23.8 (Quarter-on-Quarter % Change) 3 (Year-on-Year % Change) (Base=1) 11.6 1.4 1.2 9-1 8 -.2 - -.4 11 3/4-3 7 -.6 -.8 11 4/4 Euro Germany France Italy Spain U.K. -4 6 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 New Orders(left) Sentiment indicator(right)

The Japanese economy maintains the trend of improvement in its main real economy indicators such as consumption, but its exports remain sluggish due to the global economic slowdown. 4 (Year-on-Year % Change) 6 1,5 (Billion Yen) (Year-on-Year % Change) 6 3 1, 5 4 - -3-5 -1, - -4-6 -1,5-4 -6-9 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 Industrial production(left) Retail Sales(right) -2, 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 Balance of Trade(left) Export(right) Import(right) -6 24 The Chinese economy sustains a comparatively high growth momentum in its indicators for domestic demand, but the pace of growth slows down gradually influenced by poor export performance due to aggravating external conditions. (Year-on-Year % Change) 36 65 (Base=5) (Year-on-Year % Change) 12 17 32 6 8 14 55 4 28 5 11 45-4 8 24 4-8 5 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 35 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11-12 Industrial Production(left) Fixed Asset Investment(right) Manufacturing PMI(left) Leading Index(right)

Inflation rates of some emerging market economies appear to rise again, while the international oil prices rose sharply following the upward trend of the previous month influenced by the emerging possibility of Iran halting its oil exports. 14 ($/barrel) 3,5 1 (Year-on-Year, % Change) 1 8 1 3, 6 8 2,5 4 2 6 2, 4-2 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 1,5-4 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 8 9 1 11 Dubai(left) Reuter(right) U.S. Euro China Recently, major forecasting institutions have revised slightly up the forecast for some countries such as the US. 25 Meanwhile, uncertainties over the global economy for the future are presumed to grow further, as international oil prices soared despite the sign of recovery in some advanced economies. 4 (%) 9.5 3 9. 2 8.5 1 8. -1 1 2 3 4 5 6 7 8 9 1 11 12 1 2 11 12 U.S.(left) Euro(left) Japan(left) China(left) 7.5

The global financial markets show a continuing stability, as some real economy indicators improved and concerns over sovereign debt crisis in the euro area are relaxed. In the midst of the fall in financial market volatility indices including VIX and CDS premium of major economies, interest rates for long-term bonds turned to an upward trend as the preference for safe assets has weakened. (%, 5-day moving average) (5-day moving average) 4. 45 6 (bp) 3.6 4 5 3.2 35 4 2.8 3 25 3 2.4 2. 15 1 26 1.6 1 12 3 6 9 12 3 6 9 12 9 1 11 12 Treasury Bond(left) VIX(right) 12 3 6 9 12 3 6 9 12 9 1 11 12 Spain Italy France 15 The value of the dollar remained weak against major currencies, except for the yen, while stock prices increased relatively sharp. (%) 1 1.5 1. 5 4.1 3.9 2.4 5.9.5 3.7 3.8 -.1-5 -5.1-1 U.S. Euro Japan China Russia Korea Stock Price Change Currency Revaluation Rate

경제동향주요지표 Major Indicators of the Korean Economy

GDP 및제조업성장률 (5 년불변가격 ) GDP and Manufacturing Sector Growth Rates (at 5 Constant Prices) 24 ( 전년동기대비, % / Year-on-Year % Change) 18 12 6-6 -12-18 II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV 4 5 6 7 8 9 1 11 국내총생산 (GDP) 제조업 (Manufacturing) GDP 및서비스업성장률 (5 년불변가격 ) GDP and Service Sector Growth Rates (at 5 Constant Prices) 1 ( 전년동기대비, % / Year-on-Year % Change) 5-5 -1-15 II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV 4 5 6 7 8 9 1 11 국내총생산 (GDP) 건설업 (Construction) 서비스 (Services) 2

1-1. 경제활동별국내총생산 (5 년불변가격 ) GDP by Economic Activity (at 5 Constant Prices) ( 조원, Trillion Won) 국내총생산 GDP 농림어업 Agriculture, Forestry & Fishing 제조업 Manufacturing 전기 가스및수도사업 Electricity, Gas &Water 건설업 Construction 서비스업 Services 5 865.2 25.9 213.6 17.6 59.3 457.5 6 91. 26.2 23.9 18.3 6.6 477.7 7 956.5 27.3 247.4 19. 62.1 52. 8 978.5 28.8 254.5.2 6.6 515.8 9 981.6 29.8 25.6 21. 61.7 521.8 1 p 1,42.1 28.5 287.6 22. 61.7 54. 11 p 1,79.8 28.2 37.9 22.8 58.2 554.3 8 Ⅳ 247.5 8.2 61.3 4.6 17.3 132. 9 Ⅰ 224.4 5.5 52.7 6.2 11.8 125.7 Ⅱ 244.7 7.5 63.1 5. 16.7 129. Ⅲ 249.5 8.2 65.5 5.3 15.3 13.5 Ⅳ 263. 8.6 69.3 4.6 17.9 136.5 1 Ⅰ p 243.4 5.5 64.4 6.5 12.1 131.3 Ⅱ p 263. 7.3 74.3 5.2 16.8 133.8 Ⅲ p 26.4 7.6 71.9 5.5 15.5 134.2 Ⅳ p 275.3 8. 77.1 4.9 17.3 14.7 11 Ⅰ p 253.5 5.1 7.8 6.7 1.9 134.9 Ⅱ p 272. 7.4 79.6 5.4 15.6 137.3 Ⅲ p 269.6 7.4 76.2 5.6 14.9 137.7 Ⅳ p 284.6 8.4 81.3 5.1 16.9 144.4 전년동기대비증가율 (%) Percentage Change from the Same Period of the Previous Year 5 4. 1.3 6.2 7.4 -.3 3.5 6 5.2 1.5 8.1 4.1 2.2 4.4 7 5.1 4. 7.2 3.8 2.6 5.1 8 2.3 5.6 2.9 6.2-2.5 2.8 9.3 3.2-1.5 4.1 1.8 1.2 1 p 6.2-4.3 14.8 4.7 -.1 3.5 11 p 3.6-1. 7.1 3.4-5.6 2.6 8 Ⅳ -3.3 (-4.6) 6.5 (.) -9.4 (-11.) 2.7 ( 1.8) -6.8 (-2.9).2 (-1.3) 9 Ⅰ -4.2 (.1) 2.5 ( 1.1) -13.6 (-3.4) 5.3 ( 1.9) -.1 ( 3.5) -.3 (.4) Ⅱ -2.1 ( 2.5). (.) -7.1 ( 8.4) 3.2 (-1.1) 3.2 ( 1.3).4 ( 1.) Ⅲ 1. ( 3.4) 5. ( 3.7) 1.8 ( 9.7) 6.6 ( 3.4).2 (-1.4) 1. ( 1.1) Ⅳ 6.3 (.2) 5. (.) 13.1 (-1.1).7 (-2.8) 3.2 (.5) 3.4 (.9) 1 Ⅰ p 8.5 ( 2.1).9 (-3.1) 22.2 ( 4.2) 4.8 ( 5.) 2.2 ( 1.4) 4.5 ( 1.5) Ⅱ p 7.5 ( 1.4) -2.2 (-2.5) 17.8 ( 4.) 5.5 (.3).8 (-.1) 3.7 (.2) Ⅲ p 4.4 (.6) -7.3 (-2.5) 9.8 ( 2.3) 3.2 (.4).9 (-1.2) 2.8 (.3) Ⅳ p 4.7 (.5) -6.7 (.2) 11.1 (.1) 5.6 (.) -3.2 (-3.2) 3. ( 1.1) 11 Ⅰ p 4.2 ( 1.3) -8.6 (-4.5) 9.8 ( 3.1) 3.4 ( 2.4) -9.9 (-6.1) 2.7 ( 1.2) Ⅱ p 3.4 (.9) 1. ( 8.3) 7.2 ( 1.4) 2.7 (.1) -7.6 ( 2.6) 2.6 (.) Ⅲ p 3.5 (.8) -2.7 (-6.1) 6.1 ( 1.4) 2.2 (-.4) -3.3 ( 3.5) 2.6 (.3) Ⅳ p 3.4 (.4) 4. ( 6.8) 5.5 (-.5) 5.3 ( 3.4) -2.6 (-2.2) 2.6 (.9) 주 : p) 잠정치. ( ) 는계절조정전기대비증가율. 자료 : 한국은행. Note: p) Preliminary. The figures in parentheses indicate % change from the previous quarter(s.a). Source: Bank of Korea. KDI 경제동향 (12. 3)

민간소비증가율 (5 년불변가격 ) Growth Rate of Private Consumption (at 5 Constant Prices) 9 ( 전년동기대비, % / Year-on-Year % Change) 6 3-3 -6 II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV 4 5 6 7 8 9 1 11 국내총생산 (GDP) 민간소비 (Private Consumption) 고정투자증가율 (5 년불변가격 ) Growth Rate of Fixed Investment (at 5 Constant Prices) 3 ( 전년동기대비, % / Year-on-Year % Change) 1-1 - -3 II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV 4 5 6 7 8 9 1 11 설비투자 (Equipment Investment) 건설투자 (Construction Investment) 4

1-2. 국내총생산에대한지출 (5 년불변가격 ) Expenditure on GDP (at 5 Constant Prices) Final Consumption 총소비 민간소비 Private Consumption 정부소비 Government Consumption Gross Capital Formation 총자본형성 설비투자 equipment Investment ( 조원, Trillion Won) 건설투자 Construction Investment 5 585.4 465.4 1. 256.9 79.6 155.4 6 615.3 487.4 127.9 268.2 86.1 156.2 7 646.9 512.1 134.8 277.7 94.1 158.4 8 659.5 518.8 14.6 277.8 93.1 153.9 9 667.5 518.8 148.5 24.4 83.9 159.2 1 p 693.5 54.3 152.9 277.5 15. 157. 11 p 79.1 552.4 156.4 279.6 19. 146.8 8 Ⅳ 164.8 127. 37.7 67.4 21.3 43.6 9 Ⅰ 161.6 126.1 35.5 49.1 18. 3.8 Ⅱ 164.9 127.4 37.4 58.9.3 43.2 Ⅲ 168.2 131.1 37.1 61.3 21.8 39.9 Ⅳ 172.7 134.2 38.5 71.1 23.9 45.4 1 Ⅰ p 171.1 134.4 36.7 61.2 23.2 32.1 Ⅱ p 17.5 131.9 38.5 72.8 26.5 42.2 Ⅲ p 173.9 135.8 38. 68.7 27.6 38.7 Ⅳ p 177.9 138.1 39.7 74.8 27.7 44.1 11 Ⅰ p 175.5 138.2 37.2 59.9 25.9 28.3 Ⅱ p 175.3 135.9 39.3 74. 28.5 39.3 Ⅲ p 177.9 138.5 39.3 68.7 27.8 36.9 Ⅳ p 18.4 139.8 4.6 77.1 26.8 42.3 전년동기대비증가율 (%) Percentage Change from the Same Period of the Previous Year 5 4.6 4.6 4.3 2.3 5.3 -.4 6 5.1 4.7 6.6 4.4 8.2.5 7 5.1 5.1 5.4 3.5 9.3 1.4 8 2. 1.3 4.3. -1. -2.8 9 1.2. 5.6-13.5-9.8 3.4 1 p 3.9 4.1 3. 15.4 25. -1.4 11 p 2.3 2.2 2.3.8 3.8-6.5 8 Ⅳ -1.7 (-2.9) -3.6 (-4.2) 4.7 ( 1.7) -13.2 (-17.2) -13.3 (-13.3) -7.7 (-2.6) 9 Ⅰ -2.2 (.4) -4.7 (-.3) 7.8 ( 2.6) -22.2 (-6.3) -21.9 (-1.2) 1.6 ( 3.9) Ⅱ.7 ( 3.) -1.1 ( 3.7) 7.3 (.8) -22.3 (-1.1) -18.1 ( 6.7) 4.3 ( 2.4) Ⅲ 1.5 ( 1.1).4 ( 1.4) 5.3 (.1) -14.2 (11.4) -9.4 ( 9.1) 3.2 (-1.2) Ⅳ 4.8 (.4) 5.6 (.9) 2.2 (-1.1) 5.6 ( 3.5) 12.2 ( 7.8) 4. (.7) 1 Ⅰ p 5.9 ( 1.2) 6.6 (.5) 3.4 ( 3.6) 24.6 ( 7.5) 29.1 ( 2.8) 4.3 ( 2.) Ⅱ p 3.4 (.6) 2.5 (.7) 2.9 (.3) 23.7 (-.6) 3.5 ( 7.9) -2.3 (-4.2) Ⅲ p 3.4 ( 1.) 3.6 ( 1.4) 2.5 (-.1) 12. ( 1.6) 26.6 ( 5.6) -3.1 (-.8) Ⅳ p 3. (.1) 2.9 (.3) 3.2 (-.4) 5.2 (-2.9) 15.9 (-1.) -2.9 (-1.) 11 Ⅰ p 2.5 (.7) 2.8 (.4) 1.5 ( 1.7) -2.1 (-.6) 11.7 (-1.1) -11.9 (-6.7) Ⅱ p 2.8 (.9) 3. (.9) 2.1 (.8) 1.6 ( 3.5) 7.5 ( 3.9) -6.8 ( 1.6) Ⅲ p 2.3 (.6) 2. (.4) 3.4 ( 1.4).1 (-.1) 1. (-.8) -4.6 ( 1.8) Ⅳ p 1.4 (-.7) 1.2 (-.4) 2. (-1.7) 3. (.3) -3.4 (-5.2) -4. (-.3) 주 : p) 잠정치. ( ) 는계절조정전기대비증가율. 자료 : 한국은행. Note: p) Preliminary. The figures in parentheses indicate % change from the previous quarter(s.a). Source: Bank of Korea. KDI 경제동향 (12. 3)

수출증가율 (5 년불변가격 ) Growth Rate of Exports (at 5 Constant Prices) 4 ( 전년동기대비, % / Year-on-Year % Change) 3 1-1 - II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV 4 5 6 7 8 9 1 11 상품수출 (Export of Goods) 서비스수출 (Export of Services) 수입증가율 (5 년불변가격 ) Growth Rate of Imports (at 5 Constant Prices) 3 ( 전년동기대비, % / Year-on-Year % Change) 1-1 - -3 II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV 4 5 6 7 8 9 1 11 상품수입 (Import of Goods) 서비스수입 (Import of Services) 6

1-2. 국내총생산에대한지출 (5 년불변가격 ) - 계속 Expenditure on GDP (at 5 Constant Prices) - Continued ( 조원, Trillion Won) 총수출 총수입 Total Export 상품수출 Goods 서비스수출 Services Total Import 상품수입 Goods 서비스수입 Services 5 339.8 295.5 44.3 316.4 261. 55.4 6 378.4 333.7 44.7 352.1 291.1 61. 7 426.1 373.3 52.7 393.2 322.7 7.5 8 454.2 39.4 63.2 41.6 337.2 73.4 9 448.8 389.5 58.8 377.8 311. 66.8 1 p 514. 451.1 62.5 441.7 367.6 74.1 11 p 565.4 51.2 63.7 47.8 4.1 7.5 8 Ⅳ 111. 92.6 18. 94.4 77.9 16.6 9 Ⅰ 97.9 82.4 15.3 85. 69.7 15.3 Ⅱ 112.7 98.7 14. 92.7 76.2 16.5 Ⅲ 116.8 12.4 14.4 97.4 8.4 17. Ⅳ 121.3 16.1 15.2 12.7 84.6 18. 1 Ⅰ p 114.2 99.6 14.6 13.2 84.7 18.5 Ⅱ p 129.1 113.2 15.8 19.4 91.8 17.6 Ⅲ p 13.3 114.3 15.9 111.7 93.3 18.4 Ⅳ p 14.4 124. 16.2 117.3 97.7 19.6 11 Ⅰ p 133.4 118.2 15.1 114.4 96.3 18. Ⅱ p 141.5 126.2 15.2 118. 11.1 16.9 Ⅲ p 142.8 126.3 16.4 118.4 1.8 17.6 Ⅳ p 147.7 13.5 17.1 1. 11.9 18. 전년동기대비증가율 (%) Percentage Change from the Same Period of the Previous Year 5 7.8 9.4-2.6 7.6 7.3 9. 6 11.4 12.9 1. 11.3 11.5 1.2 7 12.6 11.9 18. 11.7 1.9 15.6 8 6.6 4.6 19.8 4.4 4.5 4. 9-1.2 -.2-6.9-8. -7.8-9. 1 p 14.5 15.8 6.2 16.9 18.2 1.9 11 p 1. 11.1 2.1 6.6 8.8-4.9 8 Ⅳ -6.1 (-8.5) -11.3 (-12.4) 29.4 (15.) -11.8 (-14.2) -12.7 (-14.8) -6.7 (-11.7) 9 Ⅰ -11.3 (-4.3) -13.6 (-2.1) 2.2 (-14.3) -18.4 (-6.9) -18.1 (-6.1) -19.6 (-1.6) Ⅱ -3.8 (1.3) -3.4 (13.3) -6.7 (-6.) -12.9 ( 8.9) -13.3 ( 8.1) -1.8 (12.7) Ⅲ 1.1 ( 5.) 2.1 ( 5.4) -5.7 ( 1.8) -7.8 ( 6.4) -6.9 ( 7.8) -12.1 (-.9) Ⅳ 9.3 (-1.1) 14.6 (-1.7) -15.6 ( 2.9) 8.8 (.8) 8.7 (-.4) 8.8 ( 7.6) 1 Ⅰ p 16.7 ( 2.2).8 ( 3.) -4.5 (-3.3) 21.5 ( 4.2) 21.6 ( 4.8).8 ( 1.2) Ⅱ p 14.5 ( 7.8) 14.7 ( 7.4) 12.4 (1.8) 18. ( 5.7).4 ( 7.1) 6.7 (-1.2) Ⅲ p 11.6 ( 2.3) 11.6 ( 2.5) 1.5 (.3) 14.7 ( 3.2) 16. ( 3.6) 8.4 ( 1.1) Ⅳ p 15.7 ( 2.6) 16.9 ( 3.) 6.9 (-.4) 14.2 (.5) 15.5 (-.7) 8.5 ( 6.7) 11 Ⅰ p 16.8 ( 3.3) 18.7 ( 4.6) 3.5 (-6.7) 1.8 ( 1.2) 13.7 ( 3.1) -2.8 (-8.4) Ⅱ p 9.6 ( 1.2) 11.5 (.9) -3.2 ( 3.8) 7.9 ( 2.8) 1.1 ( 3.8) -4.4 (-3.2) Ⅲ p 9.6 ( 2.2) 1.5 ( 1.6) 3.2 ( 7.) 6. ( 1.5) 7.9 ( 1.5) -4.4 ( 1.2) Ⅳ p 5.2 (-1.5) 5.2 (-1.9) 5.1 ( 1.4) 2.3 (-3.1) 4.2 (-4.) -7.9 ( 2.3) 주 : p) 잠정치. ( ) 는계절조정전기대비증가율. 자료 : 한국은행. Note: p) Preliminary. The figures in parentheses indicate % change from the previous quarter(s.a). Source: Bank of Korea. KDI 경제동향 (12. 3)

국내총생산및국내총소득의성장률 (5 년불변가격 ) Growth Rates of GDP and GDI (at 5 Constant Prices) 1 ( 전년동기대비, % / Year-on-Year % Change) 8 6 4 2-2 -4-6 -8 II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV 4 5 6 7 8 9 1 11 국내총생산 (GDP) 국내총소득 (GDI) 국내총생산및국내총소득의성장률 ( 계절조정 / 5 년불변가격 ) Growth Rates of GDP and GDI(Seasonally Adjusted / at 5 Constant Prices) 6 ( 전기대비, % / Quarter-on-Quarter % Change) 4 2-2 -4-6 II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV 4 5 6 7 8 9 1 11 국내총생산 (GDP) 국내총소득 (GDI) 8

1-3. 국내총소득및국민총소득 (5 년불변가격 ) Gross Domestic Income and Gross National Income (at 5 Constant Prices) ( 조원, Trillion Won) 국내총소득 Gross Domestic Income 무역손익 Trading Gains & Losses 국민총소득 Gross National Income 해외순수취요소소득 Net Foreign Income 5 865.2. 864.4 -.8 6 896.9-13.2 898.2 1.3 7 939.7-16.8 941.3 1.6 8 928.5-5. 935.2 6.8 9 946. -35.6 95. 4.1 1 p 1,2.4-39.7 1,2.5.1 11 p 1,13.9-65.9 - - 8 Ⅳ 233.3-14.2 236.9 3.7 9 Ⅰ 213.6-1.7 214.7 1.1 Ⅱ 238.9-5.9 239.3.4 Ⅲ 239.4-1.1 24.7 1.3 Ⅳ 254.1-8.9 255.4 1.3 1 Ⅰ p 234.9-8.5 235.3.4 Ⅱ p 253.7-9.2 252.8-1. Ⅲ p 25.4-1. 251.4 1. Ⅳ p 263.3-12. 263. -.3 11 Ⅰ p 239.2-14.3 239.6.4 Ⅱ p 255. -17.1 254.2 -.7 Ⅲ p 252.7-16.9 253.4.8 Ⅳ p 267. -17.6 - - 전년동기대비증가율 (%) Percentage Change from the Same Period of the Previous Year 5 2.4-2. - 6 3.7-3.9-7 4.8-4.8-8 -1.2 - -.6-9 1.9-1.6-1 p 6. - 5.5-11 p 1.1 - - - 8 Ⅳ -6.5 (-3.6) - -5.6 (-2.5) - 9 Ⅰ -4.9 (.8) - -5.2 (-.2) - Ⅱ -.3 ( 4.8) -. ( 5.1) - Ⅲ 3.6 ( 1.9) - 3.4 ( 1.5) - Ⅳ 8.9 ( 1.2) - 7.8 ( 1.4) - 1 Ⅰ p 9.9 ( 1.6) - 9.6 ( 1.2) - Ⅱ p 6.2 ( 1.2) - 5.6 ( 1.3) - Ⅲ p 4.6 (.5) - 4.5 (.4) - Ⅳ p 3.6 (.3) - 3. (.) - 11 Ⅰ p 1.9 (-.3) - 1.8 (-.1) - Ⅱ p.5 (-.1) -.6 (.2) - Ⅲ p.9 ( 1.1) -.8 (.8) - Ⅳ p 1.4 (.6) - - - - 주 : p) 잠정치. ( ) 는계절조정전기대비증가율. 자료 : 한국은행. Note: p) Preliminary. The figures in parentheses indicate % change from the previous quarter(s.a). Source: Bank of Korea. KDI 경제동향 (12. 3)

제조업및서비스업성장률 ( 경상가격 ) Growth Rates of Manufacturing and Service Sectors (at Current Prices) 3 ( 전년동기대비, % / Year-on-Year % Change) 25 15 1 5-5 -1-15 II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III 4 5 6 7 8 9 1 11 국내총생산 (GDP) 제조업 (Manufacturing) 서비스 (Services) 경제활동별국내총생산의비중 ( 경상가격 ) Share of GDP by Economic Activity (at Current Prices) 55 (%) 3 54 25 53 52 15 51 1 5 1 2 3 4 5 6 7 8 9 1 5 서비스업 ( 좌 ) / Service(left) 건설업 ( 우 ) / Construction(right) 제조업 ( 우 ) / Manufacturing(right) 1

1-4. 경제활동별국내총생산 ( 경상가격 ) GDP by Economic Activity (at Current Prices) ( 조원, Trillion Won) 국내총생산 GDP 농림어업 Agriculture, Forestry & Fishing 제조업 Manufacturing 전기 가스및수도사업 Electricity, Gas &Water 건설업 Construction 서비스업 Services 4 826.9 27.7 5.8 17.5 57.8 431.2 5 865.2 25.9 213.6 17.6 59.3 457.5 6 98.7 25.8 2.9 18.5 61.4 486.2 7 975. 25.2 238.6 19.2 65. 524.8 8 1,26.5 24.7 256.2 12.3 64.6 559.5 9 1,65. 26.6 266.6 17.3 66.6 579.6 1 p 1,172.8 27. 323. 21. 68.8 614.9 8 Ⅲ 262.6 6.5 63.7 3.8 16.4 142.7 Ⅳ 261.3 6.7 6. 1.6 18.9 146.8 9 Ⅰ 238.7 5.1 55.6 4.3 12.5 137.2 Ⅱ 264.8 6.6 67.3 4.4 17.7 142.1 Ⅲ 275.4 7.2 7.2 5.9 16.7 146.8 Ⅳ 286.2 7.7 73.5 2.7 19.7 153.4 1 Ⅰ p 267.9 5.7 7.6 5.8 13.2 146.6 Ⅱ p 294.4 7.3 84.2 4.1 18.1 151.2 Ⅲ p 297.9 6.8 82.4 5.9 17.5 154.6 Ⅳ p 312.7 7.2 85.8 5.2.1 162.4 11 Ⅰ p 288.2 6.3 8.8 6.1 12.5 153.5 Ⅱ p 39.1 7.7 9.4 3.5 17.2 158.1 Ⅲ p 313.8 7. 87.1 6. 17.4 162.5 전년동기대비증가율 (%) Percentage Change from the Same Period of the Previous Year 4 7.8 9.4 17. -.9 5.5 6. 5 4.6-6.6 3.8.7 2.5 6.1 6 5. -.4 3.4 5.3 3.5 6.3 7 7.3-2.1 8. 3.3 5.9 8. 8 5.3-2.1 7.4-35.8 -.6 6.6 9 3.8 7.8 4. 4.3 3. 3.6 1 p 1.1 1.5 21.2 21.9 3.3 6.1 8 Ⅲ 6.5-6.4 8.5-3.9.9 7.1 Ⅳ -.7-4.3-5.9-63.8-5. 4.9 9 Ⅰ -1. 5.2-9.5 7.4 -.3 2.9 Ⅱ 1.3.8-5.3 46.2 5.3 4. Ⅲ 4.9 1.2 1.2 56.5 1.9 2.9 Ⅳ 9.5 14.3 22.5 73.9 4.3 4.5 1 Ⅰ p 12.2 1.4 26.9 35.2 5.4 6.8 Ⅱ p 11.2 11.1 25.3-5.6 2.2 6.4 Ⅲ p 8.1 5.3 17.4.6 4.7 5.3 Ⅳ p 9.3-6.3 16.7 91.6 1.9 5.9 11 Ⅰ p 7.6 1.6 14.4 4.9-5.4 4.7 주 : p) 잠정치. 자료 : 한국은행. Ⅱ p 5. 5.6 7.3-13.9-4.8 4.5 Ⅲ p 5.4 3.1 5.7 1.3 -.4 5.1 Note: p) Preliminary. Source: Bank of Korea. KDI 경제동향 (12. 3)

소비및고정투자증가율 ( 경상가격 ) Growth Rate of Private Consumption and Fixed Investment (at Current Prices) 3 ( 전년동기대비, % / Year-on-Year % Change) 1-1 II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III 4 5 6 7 8 9 1 11 민간소비 (Private Consumption) 설비투자 (Facilities Inv.) 건설투자 (Construction Inv.) 지출부문별국내총생산의비중 ( 경상가격 ) Share of GDP by Expenditure (at Current Prices) 6 (%) 55 15 5 1 45 1 2 3 4 5 6 7 8 9 1 민간소비 ( 좌 ) / Private Consumption(left) 건설투자 ( 우 ) / Construction Investment(right) 설비투자 ( 우 ) / Facilities Investment(right) 5 12

1-5. 국내총생산에대한지출 ( 경상가격 ) Expenditure on GDP (at Current Prices) ( 조원, Trillion Won) 총소비 총자본형성 Final Consumption 민간소비 Private Consumption 정부소비 Government Consumption Gross Capital Formation 설비투자 Facilities Investment 건설투자 Construction Investment 4 545.2 435.1 11.1 247.5 77.1 151.2 5 585.4 465.4 1. 256.9 79.6 155.4 6 626.8 494.9 131.9 269.2 83.8 16.8 7 673.5 53.3 143.3 286.9 9. 17.9 8 718.6 561.6 156.9 3.4 97.4 185. 9 746.3 576. 17.3 279.9 96.3 194.6 1 p 795.5 615.4 18.1 341.9 116.8 199.9 8 Ⅲ 183.4 142.6 4.8 88.2 24.9 48. Ⅳ 183.1 139.3 43.8 76.8 24.9 55. 9 Ⅰ 177.8 138.9 38.8 57.3 21.7 37.6 Ⅱ 183.3 141.1 42.2 66.1 23.2 52.4 Ⅲ 19.3 146.2 44.1 74.5 24.8 48.8 Ⅳ 194.9 149.7 45.1 82. 26.6 55.9 1 Ⅰ p 192.7 151.3 41.4 72.2 25.7 39.8 Ⅱ p 194. 149.5 44.4 88.6 29.5 53. Ⅲ p 1.9 155.5 46.4 86.9 3.8 49.7 Ⅳ p 6.9 159.1 47.8 94.2 3.8 57.5 11 Ⅰ p 5.6 161.6 44. 77.6 28.6 37.4 Ⅱ p 7. 159.8 47.2 94.2 31.4 52.4 Ⅲ p 215.6 165. 5.6 89.9 3.7 5.2 전년동기대비증가율 (%) Percentage Change from the Same Period of the Previous Year 4 4.8 3.6 1.1 8. 5.5 8.5 5 7.4 7. 9. 3.8 3.2 2.8 6 7.1 6.3 9.9 4.8 5.4 3.5 7 7.5 7.1 8.6 6.6 7.3 6.3 8 6.7 5.9 9.6 11.7 8.3 8.2 9 3.9 2.6 8.5-12.6-1.2 5.2 1 p 6.6 6.8 5.7 22.2 21.3 2.7 8 Ⅲ 7.6 7.1 9.5 24.9 14.4 15.1 Ⅳ 3.1 1.1 1.3-5.2 5.9 6. 9 Ⅰ 1.2-1.1 1.8-18.2-4. 11.2 Ⅱ 3.9 1.4 13.4-22.6-7.3 8.8 Ⅲ 3.8 2.6 8. -15.5 -.5 1.5 Ⅳ 6.4 7.5 3. 6.7 6.7 1.6 1 Ⅰ p 8.4 8.9 6.6 26.1 18.3 5.7 Ⅱ p 5.8 6. 5.3 34. 27.2 1.2 Ⅲ p 6.1 6.4 5.1 16.6 24.3 1.7 Ⅳ p 6.2 6.3 6. 14.9 15.9 3. 11 Ⅰ p 6.7 6.8 6.4 7.4 11.2-6. 주 : p) 잠정치. 자료 : 한국은행. Ⅱ p 6.7 6.9 6.2 6.4 6.5-1.2 Ⅲ p 6.8 6.1 9.1 3.5 -.2 1.2 Note: p) Preliminary. Source: Bank of Korea. KDI 경제동향 (12. 3)

수출및수입증가율 ( 경상가격 ) Growth Rates of Exports and Imports (at Current Prices) 7 ( 전년동기대비, % / Year-on-Year % Change) 6 5 4 3 1-1 - II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III 4 5 6 7 8 9 1 11 국내총생산 (GDP) 상품수출 (Export of Goods) 상품수입 (Import of Goods) 국내총생산및국민총소득의성장률 ( 경상가격 ) Growth Rates of GDP and GNI (at Current Prices) 16 ( 전년동기대비, % / Year-on-Year % Change) 12 8 4-4 II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III 4 5 6 7 8 9 1 11 국내총생산 (GDP) 국민총소득 (GNI) 14

1-5. 국내총생산에대한지출 ( 경상가격 ) - 계속 Expenditure on GDP (at Current Prices) - Continued ( 조원, Trillion Won) 총수출총수입국민총소득 Total Export 상품수출 Goods 서비스수출 Services Total Import 상품수입 Goods 서비스수입 Services Gross National Income 4 338.1 291.4 46.7 33.7 25.1 53.5 829.3 5 339.8 295.5 44.3 316.4 261. 55.4 864.4 6 36.6 317.4 43.2 348. 289.3 58.7 91.1 7 48.8 353.9 54.8 394. 325.2 68.8 976.8 8 544.1 463.8 8.3 556.2 464.7 91.5 1,34.1 9 529.6 46.4 69.2 49.2 43.4 86.8 1,69.8 1 p 614.5 538.3 76.2 581.7 486.7 95. 1,173.1 8 Ⅲ 143.3 123.5 19.8 152.8 128.2 24.5 264.4 Ⅳ 148.8 124.2 24.6 146.4 122. 24.4 265.5 9 Ⅰ 123. 14.2 18.8 1. 98.5 21.5 239.9 Ⅱ 13.2 114. 16.2 114.6 93.9.7 265.3 Ⅲ 136.1 119.6 16.4 125.8 14.2 21.6 276.9 Ⅳ 14.3 122.5 17.8 129.9 16.8 23.1 287.7 1 Ⅰ p 134.7 117.5 17.2 133.3 11.3 22.9 268.4 Ⅱ p 155.9 136.6 19.3 144.8 122. 22.8 293.3 Ⅲ p 157.3 137.8 19.4 148.7 125. 23.7 299.1 Ⅳ p 166.6 146.3.2 155. 129.4 25.6 312.4 11 Ⅰ p 163.1 144.4 18.6 159.5 136.3 23.2 288.8 Ⅱ p 173.4 154.5 18.9 167.3 145.4 21.9 38.3 Ⅲ p 174.7 154.5.2 167.4 144.7 22.7 315. 전년동기대비증가율 (%) Percentage Change from the Same Period of the Previous Year 4 24.6 23.6 3.9 19.6 19.4.4 8. 5.5 1.4-5.2 4.2 4.3 3.4 4.2 6 6.1 7.4-2.4 1. 1.8 6.1 5.3 7 13.3 11.5 26.9 13.2 12.4 17.2 7.3 8 33.1 31. 46.6 41.2 42.9 33. 5.9 9-2.7 -.7-13.8-11.9-13.2-5.1 3.4 1 p 16. 16.9 1. 18.7.7 9.4 9.7 8 Ⅲ 4.3 39.6 44.7 59.5 63.8 4.3 6.4 Ⅳ 31.4 26.7 62. 34.2 34.3 33.7.3 9 Ⅰ 6.4 5.6 11.4 -.2-1.3 5.7-1.3 Ⅱ -4.5-2.9-14.8-16.3-18.1-7.1 1.6 Ⅲ -5.1-3.1-17. -17.7-18.7-12.1 4.7 Ⅳ -5.7-1.3-27.7-11.3-12.5-5.2 8.4 1 Ⅰ p 9.5 12.7-8.6 11.1 12. 6.9 11.9 Ⅱ p 19.8 19.8 19.3 26.4 3. 1. 1.5 Ⅲ p 15.6 15.2 18.3 18.2 19.9 1. 8. Ⅳ p 18.7 19.4 13.6 19.4 21.2 1.7 8.6 11 Ⅰ p 21.1 22.9 8.3 19.7 23.5 1.3 7.6 주 : p) 잠정치. 자료 : 한국은행. Ⅱ p 11.2 13.1-2.2 15.5 19.2-3.9 5.1 Ⅲ p 11.1 12.1 3.8 12.6 15.8-4.2 5.3 Note: p) Preliminary. Source: Bank of Korea. KDI 경제동향 (12. 3)

광공업생산지수및서비스업생산지수 Industrial Production and Service Production Indices 4 ( 전년동기대비, % / Year-on-Year % Change) 3 1-1 - -3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 광공업생산지수 (Industrial Production Index) 서비스업생산지수 (Service Production Index) 경기종합지수 Composite Indices of Business Indicators ( 기준 =1 / Base=1) (%) 16 15 13 1 12 9 6 97 94 3 91 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12-3 동행지수순환변동치 ( 좌 ) / Cyclical Component of Coincident Composite Index(left) 선행지수전년동월비 ( 우 ) / 12-month Smoothed Change in Leading Composite Index(right) 16

2-1. 광공업 서비스업생산지수및경기종합지수 Industrial Production, Service Production, and Composite Indices of Business Indicators 전산업생산지수 The Index of All Industry Production 광공업생산지수 1) Industrial Production Index 서비스업생산지수 Service Production Index ( 전년동기대비, % / Year-on-Year % Change) 동행지수순환변동치 Cyclical Component of Coincident Composite Index 선행지수전년동월비 (%) 12-month Smoothed Change in Leading Composite Index(%) 8 2.8 3.4 3.6 - - 9 1.4 -.1 1.8 - - 1 7.1 16.3 3.9 - - 11 p 3.8 6.9 3.3 - - 8 Ⅱ 5.2 (-.3) 9.2 (-.4) 4.8 (.) - - Ⅲ 3.5 (-.1) 5.9 (-1.9) 3.5 (.3) - - Ⅳ -4.1 (-4.8) -11. (-11.4) -.4 (-1.8) - - 9 Ⅰ -4.8 (.) -15.1 (-2.6) -1. (.3) - - Ⅱ -.1 ( 5.) -5.4 (11.2) 1.1 ( 2.1) - - Ⅲ 3. ( 1.9) 4.8 ( 6.9) 2.4 ( 1.2) - - Ⅳ 7.3 ( 1.2) 16.8 ( 2.4) 4.8 ( 1.3) - - 1 Ⅰ 11.4 ( 3.1) 25.7 ( 3.8) 6.1 ( 1.3) - - Ⅱ 7.8 ( 1.4) 18.8 ( 4.4) 4.2 (.2) - - Ⅲ 4.1 (-.4) 1.9 ( 1.6) 2.3 (-.1) - - Ⅳ 5.7 (.6) 11.8 (.) 3.2 ( 1.2) - - 11 Ⅰ 4.5 ( 2.8) 1.4 ( 4.5) 2.8 ( 1.6) - - Ⅱ 3.7 (.4) 7.1 (.4) 3.2 (.2) - - Ⅲ 4.1 (.2) 5.3 (.4) 4.5 ( 1.3) - - Ⅳ p 3.1 (-.2) 5. (-.2) 2.7 (-.4) - - 1 1 12.3 (-1.) 37.2 (-1.1) 5.5 (-.9) 99.8 13.9 2 1.3 ( 4.) 18.6 ( 3.3) 6.1 ( 1.7) 1.3 12.8 3 11.6 (-.3) 22.5 ( 1.2) 6.6 (-.6) 1.5 12. 4 7.4 (-.7) 19.5 ( 1.) 3.8 (-.6) 1.7 9.6 5 9.5 ( 1.).5 ( 1.5) 4.8 ( 1.) 1.8 8.3 6 6.6 ( 1.3) 16.6 ( 1.5) 4. (-.1) 1.9 6.8 7 6.6 (-1.2) 15. (.5) 3.8 (-.4) 11.1 6.7 8 6.9 (-.6) 15.8 (-.8) 3.3 (-.2) 1.9 6.1 9-1. (.) 2.8 (.3) -.2 (.6) 1.5 5.4 1 6.3 (-.8) 13.3 (-2.4) 3.4 (-.3) 99.9 3.5 11 5.4 ( 1.) 11.2 ( 1.9) 3.8 ( 1.) 99.9 2.5 12 5.3 ( 3.) 1.8 ( 3.7) 2.5 ( 1.5) 1.2 1.9 11 1 8.6 ( 2.) 13.4 ( 2.1) 4.8 ( 1.1) 11.1 2.4 2.1 (-4.) 8.6 (-1.8).3 (-2.) 1.9 2.5 3 4.6 ( 3.7) 9.1 ( 1.5) 3.1 ( 1.6) 1.8 2.4 4 3.3 (-1.6) 6.8 (-1.1) 3.2 (-.6) 1.3 2.4 5 4.3 (.9) 8.3 ( 1.3) 2.9 (.2) 1.4 2.4 6 3.5 ( 1.2) 6.4 (.9) 3.4 (.8) 1.6 2.7 7 2.9 (-1.) 3.7 (-.5) 4. (.6) 1.8 2.6 8 4.3 (.1) 4.8 (-.8) 5.2 (.6) 1.9 2.6 9 5.3 (.1) 7.4 ( 1.2) 4.2 (-.9) 1.4 2.3 1 4.3 (-.1) 6.6 (-.3) 3.7 (.2) 1.3 2.9 11 3.7 (-.3) 5.7 (-.2) 3. (-.2) 99.8 2.9 12 p 1.6 (.1) 2.8 (-.7) 1.6 (-.3) 99.8 3.1 12 1 p.1 ( 1.9) -2. ( 3.3).9 ( 1.1) 99.7 3. 주 : 1) 광업, 제조업, 전기 가스업을포함. p) 잠정치. ( ) 는계절조정전기대비증가율. 자료 : 통계청. Note: 1) Mining & Manufacturing, Electricity & Gas industry. p) Preliminary. The figures in parenthesis indicate % change from the previous period(s.a.) Source: Korea National Statistical Office. KDI 경제동향 (12. 3)

주요산업별광공업생산지수 Industrial Production by Industry 1 ( 전년동기대비, % / Year-on-Year % Change) 8 6 4 - -4-6 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 반도체 IT (Semiconductors & IT) 자동차 (Motor Vehicles) 반도체, IT, 자동차제외 (Excluding Semiconductors, IT, Motor Vehicles) 기업규모별광공업생산지수 Industrial Production by Firm Size 5 ( 전년동기대비, % / Year-on-Year % Change) 4 3 1-1 - -3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 대기업 (Large Enterprise) 중소기업 (Small & Medium Enterprise) 18

2-2. 산업별, 공업구조별광공업생산 Industrial Production by Industry and Industrial Structure 산업별 by Industry ( 전년동기대비, % / Year-on-Year % Change) 공업구조별 by Industrial Structure 기업규모별 by Size of Firms 반도체 Semiconductors 정보기술 Information Technology 자동차 Motor Vehicles 반도체, 정보기술, 경공업자동차제외 Excl. Semicon. Light Industry IT, Motor Vehicles 중공업 Heavy Chemical Industry 대기업 Large Enterp. 중소기업 비중 Weight 1,198.2 772.2 1,11.2 6,928.4 1,832.9 7,589.1 6,138.4 3,283.6 8 11.2 4.3-3.2 2.4-1.6 4.4 4.6.4 9 14.9-5.4-6.5-2.7-5.3.8 1.9-5.2 1 3.7 7.7 23.2 11.4 7.8 18.5 17.6 14.5 11 p 16.1-13.3 13.8 4.2 1.4 8. 8.1 4.3 8 Ⅱ 34.7 18.7 2.1 3.8 -.8 11.9 12.7 2.7 Ⅲ 1.3 9.3-5.7 6..9 7. 6.7 4. Ⅳ -26.5-18.9-14.1-5. -8. -12.5-13.3-8.1 9 Ⅰ -18.7-16.9-32.2-11. -12.5-16.5-16.3-14.8 Ⅱ 3.3-6. -19. -5.6-8.6-5.3-4.4-9.5 Ⅲ 23.1-8.1 16.4 -.7-1.9 6.3 7.9-2.2 Ⅳ 63.4 12.2 15.6 6.7 2.2.8 22.8 5.7 1 Ⅰ 58.8 13.8 48.9 15.3 1.4 3.1 3.1 18.6 Ⅱ 32.6 9.3 32.2 13.4 9.4 21.3 19.8 18.5 Ⅲ 23.7 3.6 11.4 6.9 2.4 12.7 11.6 9.7 Ⅳ 17.9 4.5 1.2 1.6 9.3 12.5 11.9 12.2 11 Ⅰ 19.1-4.9 15.5 7.9 5.1 11.5 11.2 9.1 Ⅱ 16.9-16. 11.9 5. 1.1 8.3 8.1 5.2 Ⅲ 9. -14.2 15.9 4. 1.7 5.9 6. 3.3 Ⅳ p. -17.8 12.6.3-1.7 6.5 7.3.3 1 1 79. 27.7 81.8 23.5 18.8 43.4 43.6 28. 2 5.8 6.5 26.8 1. 3.1 22.5 21.9 12.4 3 5.9 8.5 46.1 12.9 9.5 26.1 26.4 16.3 4 37.4 12.5 34.9 12.7 8. 22.4 21.3 17.1 5 32.9 1.8 36.9 15. 1.6 23.2 21.3 21. 6 28.2 4.9 25.6 12.6 9.7 18.5 17. 17.6 7 28.7 3.6 22.4 1.3 4.9 17.3 15. 16.2 8 25. 9.6 18.4 12.6 9.2 17.5 15.9 16.8 9 18. -1.8-3.1-1.2-6. 4.4 4.6-1.9 1 13.1 12.4 15.9 13. 11.1 13.9 12.6 15.7 11 16.6.6 6.9 11.2 1.6 11.5 11.1 11.9 12 24.3.8 8.4 7.7 6.3 12. 11.9 9.3 11 1 23.6-6.2 23.5 1.3 9.6 14.4 14.1 12.5 2 21.8 -.9 11.8 4.2. 1.3 1.5 4.5 3 13. -6.9 11.5 8.9 5. 1. 9. 9.9 4 19.3-16.3 8.3 4.3 1. 8. 8. 4.5 5 19.7-16.6 11.1 6. 2. 9.5 8.8 7.4 6 11.8-15.2 16.1 4.8.2 7.5 7.5 3.6 7 6.5-15.9 11.4 3.1 -.3 4.2 4.8.3 8 5.5-14.9 22. 4.1 2.2 5.3 5.1 4.3 9 14.8-11.7 15.7 4.8 3.2 8.2 8.1 5.6 1 26.5-17.5 12.1.6-2.3 8.4 9.6 -.5 11 21.7-19.2 14.1.6 -.7 7.5 8.4 1.2 12 p 12. -16.7 11.5 -.5-2. 3.8 4..4 12 1 p 8.3-12. -6.9-4.3-1.3 -.5 -.5-5.9 주 : p) 잠정치. 자료 : 통계청. Note: p) Preliminary. Source: Korea National Statistical Office. SME KDI 경제동향 (12. 3)

내수및수출출하지수 Domestic Shipment and Export Shipment Indices 4 ( 전년동기대비, % / Year-on-Year % Change) 3 1-1 - -3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 내수출하지수 (Domestic Shipment Index) 수출출하지수 (Export Shipment Index) 재고지수및재고율 Inventory Index and Inventory Rate 25 15 1 5-5 -1-15 ( 전년동기대비, % / Year-on-Year % Change) (%) 13 1 11 1 9-6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 8 재고지수 ( 좌 ) / Inventory Index(left) 재고율 ( 우 ) / Inventory Rate(right)

2-3. 생산자제품출하및재고지수 Shipment and Inventory Indices Shipment Index 생산자제품출하 내수 Domestic Shipment 수출 Export Shipment 생산자제품재고 Inventory Index ( 전년동기대비, % / Year-on-Year % Change) 재고율 (%) Inventory Rate 제조업평균가동률 (%) The Average Operating Rate 8 2.5 -.5 7.1 6.9-77.6 9-1.3-1.6 -.9-7.8-74.4 1 14.3 11.5 18.1 17.3-8.9 11 p 6.5 3.3 1.8.6-8. 8 Ⅱ 6.8 (-.6) 1.9 14.4 16.2 ( 8.5) - 8.8 Ⅲ 5.4 (-.9) 2. 1.3 17. (.1) - 77.9 Ⅳ -9.9 (-1.2) -1.6-8.8 6.9 (-5.3) - 69.7 9 Ⅰ -14.3 (-3.7) -15. -13.3-6.2 (-8.6) - 67.1 Ⅱ -5.2 (1.3) -5.2-5.2-17. (-4.) - 74.1 Ⅲ 2.3 ( 5.2) 3.3 1.1-14.3 ( 2.8) - 77.6 Ⅳ 12.9 ( 2.7) 11.7 14.5-7.8 ( 2.2) - 78.6 1 Ⅰ.9 ( 2.) 19.7 22.5 8.2 ( 7.2) - 8.3 Ⅱ 15.9 ( 5.1) 13.3 19.4 18. ( 4.4) - 81.9 Ⅲ 9.9 ( 1.5) 6.5 14.3 19.4 ( 4.8) - 8.6 Ⅳ 11.6 ( 1.2) 7.8 16.9 17.3 (-.2) - 8.8 11 Ⅰ 11.5 ( 3.8) 6.7 18.2 9.3 (.5) - 82.2 Ⅱ 6.9 (-.3) 3.8 1.9 8.8 ( 3.7) - 79.9 Ⅲ 4.9 (.3) 2.7 7.7 9.9 ( 5.7) - 79.6 Ⅳ p 3.3 (-.5).2 7.3.6 ( 9.1) - 78.1 1 1 31.5 (-.9) 29.3 34.6-2.7 ( 1.5) 93.7 79.2 2 13.5 (.6) 11.7 16. 5.4 ( 4.) 96.8 8.5 3 18.6 ( 2.2) 18.6 18.6 8.2 ( 1.6) 96.2 81.2 4 16.4 ( 1.7) 15.3 17.9 13.2 ( 2.6) 97. 81.7 5 17. ( 1.4) 14. 21.1 17. ( 1.6) 97.1 81.7 6 14.2 ( 2.1) 1.7 19.2 18. (.2) 95.3 82.2 7 12.9 (-.1) 1.8 15.7.7 ( 2.2) 97.4 81.7 8 15.2 (-.7) 12. 19.5.4 (.8) 98.9 8.4 9 2.3 (.4) -2.2 8.4 19.4 ( 1.7) 1.1 79.7 1 13.2 (-1.1) 1.5 16.8 19. (-.7) 1.7 79.5 11 11.5 ( 2.1) 9.2 14.6 16.9 (-.4) 98.1 8.5 12 1.3 ( 2.4) 4. 19.5 17.3 (.9) 96.6 82.3 11 1 14.4 ( 3.2) 9.8.8 12.1 (-2.9) 91. 83.6 2 9.7 (-3.6) 5.1 15.7 1.2 ( 2.3) 96.5 81.8 3 1.5 ( 2.4) 5.3 17.8 9.3 ( 1.1) 95.3 81.3 4 7.1 (-1.3) 2.4 13.7 7.4 (.8) 97.3 79.4 5 8.1 (.7) 5.8 11. 6.9 (.7) 97.3 79.9 6 5.4 (.8) 3.3 8.2 8.8 ( 2.2) 98.6 8.5 7 2.9 (-.8) 1.1 5.2 8.8 ( 2.) 11.5 79.9 8 4.2 (-.6) 2.7 6. 11.1 ( 3.1) 15.4 79.8 9 7.7 ( 2.3) 4.4 11.9 9.9 (.5) 13.5 79. 1 4.6 (-1.2).8 9.2 13.9 ( 3.2) 18.2 78.8 11 3. (-1.) -.9 8. 18. ( 3.3) 112.3 78.4 12 p 2.4 (.4).7 4.6.6 ( 2.4) 114.9 77. 12 1 p -2.4 ( 3.4) -4.5.3.9 (-2.7) 18.2 8.6 주 : 재고는기말기준. p) 잠정치. ( ) 는전기비 ( 계절조정 ). 자료 : 통계청. Note: Inventory Index is based on the end of period. p) Preliminary. The figures in parenthesis indicate % change from the previous period(s.a.). Source: Korea National Statistical Office. KDI 경제동향 (12. 3)

도소매업 숙박및음식점업 Wholesale and Retail Trade, Hotels and Restaurants 12 ( 전년동기대비, % / Year-on-Year % Change) 8 4-4 -8 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 도소매업 (Wholesale and Retail Trade) 숙박및음식점업 (Hotels and Restaurants) 금융및보험업 부동산및임대업 교육서비스업 Financial Institutions and Insurance, Real Estate, Renting and Education 3 ( 전년동기대비, % / Year-on-Year % Change) 1-1 - -3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 7 8 9 1 11 12 금융및보험업 (Financial Institutions and Insurance) 부동산및임대업 (Real Estate, Renting and Leasing) 교육서비스업 (Education) 22