Gov’t Assesses Signs of Recovery in Domestic Demand on Top of Positivity in Manufacturing, Exports

The government assessed signs of recovery in domestic demand on top of positive trends in the nation’s manufacturing sector and exports.

In a monthly economic assessment report on Friday, the finance ministry said recovery trends are gradually expanding with signs of domestic recovery amid an increase in foreign tourists and improvements in the service industry.

While production in the service sector dropped point-eight percentage point in March from a month earlier due to adjustments in lodging and leisure businesses, there were expansions in highway traffic and vehicle fuel sales in April.

Retail sales jumped one-point-six percent on-month in March due to a rise in auto sales, while figures showed an increase in card approval in April.

The government also assessed that inflation has somewhat slowed amid fluctuating trends.