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Financial News: South Korea Industrial Output Rises 1.9%

South Korea Industrial Output Rises 1.9%

08/30/2017 - 19:45:00 (RTTNews)

(RTTNews) - Industrial output in South Korea climbed a seasonally adjusted 1.9 percent on month in July, Statistics Korea said in Thursday's preliminary reading.

That easily beat forecasts for a decline of 0.2 percent following the downwardly revised 0.5 percent contraction in June (originally -0.4 percent).

On a yearly basis, industrial production added 0.1 percent - again beating forecasts for a flat reading following the downwardly revised 0.5 percent decline in the previous month (originally -0.3 percent).

The index pf all industry production jumped 1.2 percent on month and 2.2 percent on year.

The Manufacturing Production Index added 1.9 percent on month but fell 0.1 percent on year in July.

The Producer's Shipment Index added 0.6 percent on month and 0.5 percent on year in June. The Producer's Inventory Index gained 0.8 percent on month and 1.6 percent on year. The Production Capacity Index added 0.2 percent on month and added 0.6 percent on year.

The Index of Capacity Utilization Rate gained 3.2 percent on month but shed 0.3 percent on year. The Manufacturing Average Capacity Utilization Rate was 73.4 percent, up 2.2 percentage points from the previous month.

The Index of Services added 0.6 percent on month and 2.2 percent on year in July. The Retail Sales Index gained 0.2 percent on month and 3.5 percent on year. The Equipment Investment Index skidded 5.1 percent on month but surged 25.0 percent on year.

The Domestic Machinery Shipment Index gained 13.6 percent on year in July. The value of Domestic Machinery Orders Received surged 40.8 percent on year.

The value of Construction Completed at constant prices gained 3.6 percent on month and 14.1 percent on year. The value of Construction Orders Received at current prices plunged 30.8 percent on year.

The Composite Coincident Index added 0.3 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, was flat on month.

The Composite Leading Index advanced 0.5 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, gained 0.2 points on month.

Also on Thursday, Statistics Korea said that retail sales were up 0.2 percent on month in July, following the 1.1 percent spike in June.

On a yearly basis, retail sales surged 3.5 percent after advancing 1.0 percent in the previous month.

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