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The impact of Corona 19 showed that the size of our economy decreased in the first quarter of this year from the previous quarter. It is the lowest level since the financial crisis.

Reporter Chan-Keun Park.

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Compared to the previous quarter, Korea's economic growth rate in the first quarter was -1.4%.

The growth rate in the first quarter is the lowest level in 11 years and 3 months after the -3.3% growth in the fourth quarter of 2008 during the global financial crisis.

In particular, private consumption in the first quarter decreased by 6.4% compared to the previous year, and the largest decline since the first quarter of 1998, the crisis.

Private consumption in the first quarter lowered overall real GDP and GDP by 3.1 percentage points.

This is because the consumption activities such as eating out, traveling, and shopping have been greatly reduced while avoiding going out under the influence of Corona19.

However, it was found that all items except consumption were relatively good.

Equipment investment increased 0.2% mainly on transportation equipment, and construction investment such as civil engineering construction increased 1.3%. Government consumption also increased 0.9%.

Exports also fell by 2%, with relatively less impact compared to private consumption.

In terms of production, the service industry fell by 2%, which was relatively shocking.

Deputy Prime Minister Hong Nam-gi diagnosed that from the second quarter, as the global economic recession began to widen, there was growing concern that the real and employment shocks would increase.