The Korean economy remained on a recovery path in April and May although spending slowed as last month's ferry sinking dampened consumer sentiment.
This according to the Bank of Korea "Golden Book" - equivalent to the U.S. Federal Reserve's Beige Book - which monitors economic activities in seven regional areas.
It notes the manufacturing sector has seen improvements in overseas shipments and production.
A vastly different story in terms of consumer sentiment though
Korea's retail and service sectors have seen sales slump since the ferry disaster on April 16th, but the report expects a rebound in May.