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Financial News: South Korea Industrial Output Gains 1.1% In February

South Korea Industrial Output Gains 1.1% In February

03/29/2018 - 19:59:00 (RTTNews)

(RTTNews) - Industrial production in South Korea climbed a seasonally adjusted 1.1 percent on month in February, Statistics Korea said in Friday's preliminary reading.

That follows the downwardly revised 0.9 percent increase in January (originally 1.0 percent).

On a yearly basis, output tumbled 6.4 percent after gaining a downwardly revised 4.3 percent in the previous month (originally 4.6 percent).

The index of all industry production was flat on month and down 0.8 percent on year.

The Manufacturing Production Index in February climbed 1.4 percent on month but lost 7.2 percent on year. The Manufacturing Shipment Index added 0.5 percent on month but dropped 8.4 percent on year. The Manufacturing Inventory Index jumped 1.1 percent on month and 8.6 percent on year.

The Production Capacity Index added 0.1 percent on month and 0.2 percent on year. The Index of Capacity Utilization Rate in February jumped 2.9 percent on month but fell 8.1 percent on year.

The Manufacturing Average Capacity Utilization Rate in February was 72.3 percent, up 2.0 percentage points from the previous month. The Index of Services in February was flat on month but up 2.2 percent on year.

The Retail Sales Index in February gained 1.0 percent on month and 6.3 percent on year. The Equipment Investment Index climbed 1.3 percent on month and 9.7 percent on year.

The Domestic Machinery Shipment Index shed 3.3 percent on year. The value of Domestic Machinery Orders Received tumbled 10.9 percent on year.

In February, the value of Construction Completed at constant prices lost 3.8 percent on month but gained 0.9 percent on year. The value of Construction Orders Received at current prices plummeted an annual 38.9 percent.

The Composite Coincident Index in February added 0.3 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, gained 0.1 points from the previous month.

The Composite Leading Index in February gained 0.2 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, fell 0.2 points from the previous month.

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