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Financial News: South Korea Industrial Production Eases 0.5% In December

South Korea Industrial Production Eases 0.5% In December

01/30/2018 - 19:20:00 (RTTNews)

(RTTNews) - Industrial production in South Korea slipped seasonally adjusted 0.5 percent on month in December, Statistics Korea said on Wednesday.

That follows the 0.2 percent increase in November.

On a yearly basis, industrial production sank 6.0 percent after dropping 1.7 percent in the previous month.

The index of all industry production was up 0.2 percent on month and down 0.7 percent on year.

The Manufacturing Production Index shed 0.7 percent on month and 6.6 percent on year in December.

The Producer's Shipment Index shed 2.3 percent on month and 8.0 percent on year in December. The Producer's Inventory Index gained 1.3 percent on month and 9.5 percent on year. The Production Capacity Index eased 0.1 percent on month but gained 0.4 percent on year.

The Index of Capacity Utilization Rate dropped 1.1 percent on month and 8.5 percent on year. The Manufacturing Average Capacity Utilization Rate was 70.4 percent, down 0.8 percentage points from the previous month.

The Index of Services added 0.2 percent on month and 2.2 percent on year in December. The Retail Sales Index skidded 4.0 percent on month and jumped 2.2 percent on year. The Equipment Investment Index surged 8.9 percent on month and 2.4 percent on year.

The Domestic Machinery Shipment Index tumbled 11.0 percent on year in December. The value of Domestic Machinery Orders Received plummeted 24.0 percent on year.

The value of Construction Completed at constant prices eased 0.3 percent on month and 2.9 percent on year. The value of Construction Orders Received at current prices added 0.3 percent on year.

The Composite Coincident Index was flat on month in December. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, fell 0.3 points on month.

The Composite Leading Index advanced 0.3 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, was flat on month.

Also on Wednesday, Statistics Korea said that retail sales in South Korea plummeted 4.0 percent on month in December. That followed the upwardly revised 5.7 percent spike in November (originally 5.6 percent).

On a yearly basis, retail sales gained 2.2 percent following the 6.5 percent jump in the previous month.

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