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Financial News: South Korea Output Falls 1.1% In October

South Korea Output Falls 1.1% In October

11/29/2017 - 18:48:00 (RTTNews)

(RTTNews) - Industrial production in South Korea fell a seasonally adjusted 1.1 percent on month in October, Statistics Korea said on Thursday.

That missed forecasts for an increase of 0.6 percent following the upwardly revised 0.2 percent gain in September (originally 0.1 percent).

On a yearly basis, industrial production tumbled 5.9 percent - again well shy of expectations for an increase of 6.1 percent following the upwardly revised 8.5 percent jump in the previous month (originally 8.4 percent).

The index of all industry production was down 1.5 percent on month and 2.2 percent on year.

The Manufacturing Production Index shed 1.5 percent on month and 6.2 percent on year in October.

The Producer's Shipment Index fell 1.4 percent on month and 6.7 percent on year in October. The Producer's Inventory Index gained 4.2 percent on month and 5.9 percent on year. The Production Capacity Index added 0.4 percent on month and 1.1 percent on year.

The Index of Capacity Utilization Rate fell 0.8 percent on month and 8.6 percent on year. The Manufacturing Average Capacity Utilization Rate was 71.3 percent, down 0.6 percentage points from the previous month.

The Index of Services dropped 1.7 percent on month and 0.2 percent on year in October. The Retail Sales Index shed 2.9 percent on month and 0.2 percent on year. The Equipment Investment Index skidded 14.4 percent on month and 3.4 percent on year.

The Domestic Machinery Shipment Index slid 14.0 percent on year in August. The value of Domestic Machinery Orders Received surged 27.8 percent on year.

The value of Construction Completed at constant prices gained 0.8 percent on month but dropped 1.5 percent on year. The value of Construction Orders Received at current prices plummeted 45.7 percent on year.

The Composite Coincident Index lost 0.2 percent on month in October. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, fell 0.4 points on month.

The Composite Leading Index advanced 0.1 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, fell 0.3 points on month.

Also on Thursday, Statistics Korea said that retail sales were down 2.9 percent on month in October following the 3.1 percent increase in September

On a yearly basis, retail sales eased 0.2 percent following the 8.4 percent jump in the previous month.

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