South Korea Industrial Output Slides 3.8% In February

Industrial production in South Korea dropped a seasonally adjusted 3.8 percent on month in February, Statistics Korea said on Tuesday – following the 1.3 percent decline in January.

On a yearly basis, industrial production jumped 11.4 percent after sliding 2.6 percent in the previous month.

The index of all industry production sank 3.5 percent on month and gained 4.9 percent on year following the flat monthly reading and the 0.6 percent drop a month earlier.

The Manufacturing Production Index in February fell 4.1 percent on month but increased 12.0 percent on year. The Manufacturing Shipment Index lost 3.3 percent on month but increased 6.1 percent on year. The Manufacturing Inventory Index rose 0.2 percent on month and 3.8 percent on year.

The Production Capacity Index eased 0.1 percent on month but increased 1.1 percent on year. The Index of Capacity Utilization Rate sank 6.4 percent on month but increased 9.5 percent on year.

The Manufacturing Average Capacity Utilization Rate in February marked 70.7 percent, down 4.9 percentage points from the previous month. The Index of Services in February shed 3.5 percent on month but increased 1.2 percent on year.

The Retail Sales Index in February fell 6.0 percent on month and 2.3 percent on year. The Equipment Investment Index lost 4.8 percent on month but spiked 15.6 percent on year.

The Domestic Machinery Shipment Index jumped 10.0 percent on year, while the value of Domestic Machinery Orders Received surged an annual 22.2 percent.

In February, the value of Construction Completed at constant prices sank 3.4 percent on month but increased 5.6 percent on year. The value of Construction Orders Received at current prices soared an annual 28.5 percent.

The Composite Coincident Index in February eased 0.4 percent on month, while the Cyclical Component of Composite Coincident Index, which reflects current economic situations, fell 0.7 points from the previous month.

The Composite Leading Index in February rose 0.3 percent on month, while the Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, showed no change from the previous month.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Leave a Reply