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In September, industrial production rebounded for the first time in three months. Compared to the previous month, production increased by 1.3% and consumption increased by 2.5%. It is analyzed as the effect of expanding vaccination, easing restrictions on private gatherings, and providing national subsidies. The economic recovery is expected to accelerate when the phased recovery of daily life begins next month, but crisis factors such as supply chain disruptions and price instability still remain.



This is reporter Im Tae-woo.



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A restaurant in Sinchon, Seoul.



Three or three customers are gathered outside the restaurant door waiting for their order to enter.



It is very different from the street atmosphere where customers disappeared due to the second corona pandemic in August last year.



[Restaurant Employee: The number of people increased slightly. It used to be 2 people, but now it's released with 4 people. It definitely improved a lot compared to that time (last year).] The



main driver of the industrial production rebound in September was the service industry.



Accommodation and restaurant production increased 10.9% from August, while transportation, warehousing, and wholesale and retail sales all increased.



Cosmetics and clothing sales also increased, which is a green light for consumer sentiment recovery.



[Eo Woon-seon/Statistics Office Economic Trend Statistical Review Officer: Consumption sentiment recovery and the government’s various income and consumption support policies are also expected to have a positive effect on economic improvement or recovery.]



On the other hand, automobile production plunged 9.8% due to disruptions in the supply and demand of semiconductors for vehicles

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In particular, disruptions in the global supply chain and sharp rise in oil prices are global concerns. In the United States, where the growth rate in the third quarter fell to 1/3 of the second quarter, a stagflation crisis is spreading in the United States, where prices only rise amid a recession.



[Kim So-young/Professor of Economics at Seoul National University: The recent rise in oil prices will also have a direct impact on the Korean economy, and there are concerns about inflation.] Although the



recovery of consumer sentiment following brisk exports and easing of quarantine measures is raising expectations for economic recovery, supply chain disruptions Korea's economic outlook for the fourth quarter is hazy as there are many factors such as inflation and slowing economic recovery in the US and China.



(Video editing: Lee Seung-yeol, VJ: Park Hyun-woo)