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Financial News: South Korea Industrial Production Adds 0.2% In May

South Korea Industrial Production Adds 0.2% In May

06/29/2017 - 19:45:00 (RTTNews)

(RTTNews) - Industrial output in South Korea gained a seasonally adjusted 0.2 percent on month in May, Statistics Korea said in Friday's preliminary reading.

That follows the 2.2 percent contraction in April.

On a yearly basis, industrial production added just 0.1 percent after rising an upwardly revised 1.8 percent in the previous month (originally 1.7 percent).

The index pf all industry production fell 0.3 percent on month but gained 2.4 percent on year.

The Manufacturing Production Index added 0.2 percent on month and was flat on year in May.

The Producer's Shipment Index shed 0.3 percent on month and 1.3 percent on year in May. The Producer's Inventory Index gained 2.5 percent on month and 1.0 percent on year. The Production Capacity Index was flat on month and added 1.0 percent on year.

The Index of Capacity Utilization Rate lost 0.7 percent on month and 2.1 percent on year. The Manufacturing Average Capacity Utilization Rate was 71.4 percent, down 0.5 percentage points from the previous month.

The Index of Services fell 0.3 percent on month and gained 2.1 percent on year in April. The Retail Sales Index lost 0.9 percent on month and climbed 1.6 percent on year. The Equipment Investment Index picked up 1.8 percent on month and 19.5 percent on year.

The Domestic Machinery Shipment Index gained 15.5 percent on year in May. The value of Domestic Machinery Orders Received advanced 26.4 percent on year.

The value of Construction Completed at constant prices lost 1.6 percent on month and climbed 15.2 percent on year. The value of Construction Orders Received at current prices surged 17.4 percent on year.

The Composite Coincident Index added 0.1 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, fell 0.2 points 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 Friday, Statistics Korea said that retail sales shed 0.9 percent on month in May, following the 0.7 percent gain in April.

On a yearly basis, retail sales advanced 1.6 percent following the downwardly revised 2.6 percent gain in the previous month (originally 2.8 percent).

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