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Financial News: South Korea Industrial Production Slides 2.2% In April

South Korea Industrial Production Slides 2.2% In April

05/30/2017 - 19:45:00 (RTTNews)

(RTTNews) - Industrial output in South Korea fell a seasonally adjusted 2.2 percent on month in April, Statistics Korea said in Wednesday's preliminary reading.

That follows the upwardly revised 1.2 percent increase in March (originally 1.0 percent).

On a yearly basis, production climbed 1.7 percent after rising 3.3 percent in the previous month.

The index pf all industry production fell 1.0 percent on month but gained 3.5 percent on year.

The Manufacturing Production Index shed 2.2 percent on month but gained 1.7 percent on year in April.

The Producer's Shipment Index shed 2.6 percent on month and 0.2 percent on year in April. The Producer's Inventory Index gained 2.7 percent on month and fell 1.2 percent on year. The Production Capacity Index eased 0.1 percent on month and added 1.5 percent on year.

The Index of Capacity Utilization Rate lost 1.5 percent on month and 0.1 percent on year. The Manufacturing Average Capacity Utilization Rate was 71.7 percent, down 1.1 percentage points from the previous month.

The Index of Services added 0.1 percent on month and 2.5 percent on year in April. The Retail Sales Index gained 0.7 percent on month and 2.8 percent on year. The Equipment Investment Index fell 4.0 percent on month but gained 14.1 percent on year.

The Domestic Machinery Shipment Index gained 13.9 percent on year in March. The value of Domestic Machinery Orders Received advanced 43.7 percent on year.

The value of Construction Completed at constant prices lost 4.3 percent on month and climbed 19.4 percent on year. The value of Construction Orders Received at current prices surged 29.7 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 Wednesday, Statistics Korea said that retail sales gained 0.7 percent on month in April, following the 0.1 percent gain in March.

On a yearly basis, retail sales advanced 2.8 percent after gaining 1.4 percent in the previous month.

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