Скачать или смотреть Index of Services in July shows triple growth amid tariff concerns

미 관세 우려 속에도 7월 산업생산•소비•투자 트리플 증가

The effects of implementing supplementary budgets and livelihood recovery consumption coupons are starting to show, as South Korea's July Index of Services shows positive signs of a consumption recovery.
For more, Park Jun-han has the details.

South Korea's economy experienced a "triple increase" in industrial production, consumption and investment in July, the first such increase since February.

This is according to Statistics Korea's Index of Services report for July, released on Friday.

Notably, the country’s consumption showed two straight months of increases.
In July, consumption went up by 2-point-4 percent year-on-year, and 2-point-5 percent month-to-month, recording its strongest growth in two years and five months.
"The effects of the second supplementary budget — such as the Livelihood Recovery Consumption Coupons and the Energy-Efficient Appliance Rebate Program — contributed to higher goods consumption and greater use of personal services in distribution, dining, lodging, and beauty."

All industry production, compared to June, rose by point-3 percent, as declines in construction were offset by gains in public administration, services, and mining and manufacturing.
Equipment investment surged by some 8 percent, led by transportation equipment such as automobiles and aircraft.
Automobile production, however, fell by over 7 percent due to seasonal holidays and the impact of U.S. tariffs.

The government said it will swiftly implement the supplementary budget to spread the momentum of domestic demand recovery nationwide.

Relevant agencies will also focus on follow-up actions to the U.S. tariff negotiations and prepare additional support measures for affected businesses by September.

Park Jun-han, Arirang News.

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2025-08-29, 20:00 (KST)