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South Korea reports weaker economic outlook amid slower domestic demand and global trade tensions.
South Korea's Ministry of Economy and Finance reported a less optimistic economic outlook due to slower domestic demand recovery, increased uncertainties, and global trade tensions.
Despite a 10.3% drop in exports and a 0.6% decline in retail sales, facility investment grew 9.9%, and the country added 135,000 jobs in January.
Consumer prices rose by 2.2%.
Employment in construction and manufacturing fell, but health care and social welfare sectors saw gains.
Import prices rose for the fourth consecutive month due to higher crude oil costs and a weaker won.
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