SEOUL, May 12 (Reuters) - South Korea said on Friday that recovery in private consumption remains weak although rapid growth in exports is boosting both production and investment.
The finance ministry said March retail sales were flat from a month earlier after posting a 3.2 percent increase in February, highlighting the fragile recovery in domestic demand.
The ministry’s monthly economic assessment noted that facilities investment and industrial production both showed a big jump thanks to improving exports.
The ministry noted that the economy faced uncertainties such as interest rate hikes by the Federal Reserve and possible trade pact negotiations.
Reporting by Cynthia Kim