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Financial News: South Korea Industrial Output Rises 1.0% In March

South Korea Industrial Output Rises 1.0% In March

04/27/2017 - 21:30:00 (RTTNews)

(RTTNews) - Industrial production in South Korea advanced a seasonally adjusted 1.0 percent on month in March, Statistics Korea said on Friday.

That followed the 3.4 percent contraction in February.

On a yearly basis, industrial production climbed 3.0 percent after surging 6.6 percent in the previous month.

The index of all industry production gained 1.2 percent on month and 4.0 percent on year.

The Manufacturing Production Index gained 1.1 percent on month and 3.2 percent on year in March.

The Producer's Shipment Index added 1.1 percent on month and 1.4 percent on year in March. The Producer's Inventory Index gained 0.2 percent on month and fell 5.8 percent on year. The Production Capacity Index was flat on month and added 1.5 percent on year.

The Index of Capacity Utilization Rate climbed 2.3 percent on month but shed 1.4 percent on year. The Manufacturing Average Capacity Utilization Rate was 72.6 percent, up 1.6 percentage points from the previous month.

The Index of Services added 0.4 percent on month and 2.8 percent on year in March. The Retail Sales Index was flat on month and gained 1.6 percent on year. The Equipment Investment Index surged 12.9 percent on month and 22.8 percent on year.

The Domestic Machinery Shipment Index gained 12.3 percent on year in March. The value of Domestic Machinery Orders Received advanced 31.7 percent on year.

The value of Construction Completed at constant prices gained 3.7 percent on month and 18.0 percent on year. The value of Construction Orders Received at current prices plummeted 24.0 percent on year.

The Composite Coincident Index added 0.5 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, gained 0.3 points on month.

The Composite Leading Index advanced 0.2 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, eased 0.1 points on month.

Also on Friday, Statistics Korea said that retail sales were flat on month in March, following the 3.2 percent gain in February.

On a yearly basis, retail sales advanced 1.6 percent after gaining 0.5 percent in the previous month.

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