September 27, 2022

Minister of Strategy and Finance predicted that “the recovery of the Korean economy is highly likely to continue, taking into account the improved global economy and high performance of exports.”

The Ministry of Finance disagrees, according to the Organization for Economic Cooperation and Development (OECD)’s Comprehensive Leading Indicator (CLI), the Korean economy is expected to show a downtrend. Not just the comprehensive leading indicator index”

According to the Minister, South Korea’s CLI remained below 100 for the second consecutive month at 99.8 in January and February 2018. For the first time in 40 months since September 2014, Korea’s CLI fell below 100.

The State Department stated that the OECD’s CLI does not necessarily correspond to the actual state of the national economy. The IMF’s economic outlook for the OECD rose from 1.8% last year to 2.1% this year and from 2.3% to 3.0% this year, despite the OECD CLI falling from 100.4 to 100.2 and 100.1 to 99.6, respectively.

The State Department added that the key indicator index evaluated by the National Statistical Office has been fluctuating monthly, but has remained above 100 for 19 consecutive months since September 2016.

An official from the US State Department said, “major economies such as the United States and Japan also calculate key indicators for their own economic conditions.