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Financial News: South Korea Industrial Production Gains 0.4% In August

South Korea Industrial Production Gains 0.4% In August

09/28/2017 - 20:41:00 (RTTNews)

(RTTNews) - Industrial output in South Korea picked up a seasonally adjusted 0.4 percent on month in August, Statistics Korea said in Friday's preliminary reading.

That missed forecasts for a gain of 0.5 percent following the downwardly revised 1.7 percent gain in July (originally 1.9 percent).

On a yearly basis, industrial production added 2.7 percent - beating forecasts for a gain of 2.2 percent following the downwardly revised 2.0 percent increase in the previous month (originally 2.2 percent).

The index pf all industry production was flat on month and climbed 2.6 percent on year.

The Manufacturing Production Index added 0.5 percent on month and 2.9 percent on year in August.

The Producer's Shipment Index added 0.8 percent on month and 2.9 percent on year in August. The Producer's Inventory Index gained 2.1 percent on month and 3.4 percent on year. The Production Capacity Index added 0.4 percent on month and added 1.0 percent on year.

The Index of Capacity Utilization Rate fell 1.5 percent on month but gained 1.9 percent on year. The Manufacturing Average Capacity Utilization Rate was 72.0 percent, down 1.1 percentage points from the previous month.

The Index of Services added 0.1 percent on month and 2.1 percent on year in August. The Retail Sales Index shed 1.0 percent on month but gained 0.8 percent on year. The Equipment Investment Index skidded 0.3 percent on month but surged 13.2 percent on year.

The Domestic Machinery Shipment Index gained 11.8 percent on year in August. The value of Domestic Machinery Orders Received surged 38.1 percent on year.

The value of Construction Completed at constant prices fell 2.0 percent on month but gained 8.1 percent on year. The value of Construction Orders Received at current prices lost 3.4 percent on year.

The Composite Coincident Index added 0.3 percent on month in August. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, gained 0.1 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, was flat on month.

Also on Friday, Statistics Korea said that retail sales were down 1.0 percent on month in August - following the downwardly revised 0.1 percent increase in July (originally 0.2 percent).

On a yearly basis, retail sales advanced 0.8 percent on year after jumping 3.5 percent in the previous month.

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