Financial News: South Korea Industrial Output Climbs 1.8% On Month

South Korea Industrial Output Climbs 1.8% On Month In September

10/30/2023 - 19:17:00 (RTTNews)

(RTTNews) - Industrial production was up a seasonally adjusted 1.8 percent on month in September, Statistics Korea said on Tuesday - beating forecasts for a decline of 0.9 percent following the 5.4 percent decline in August.

Total industrial production was driven by increases in both mining (0.4 percent) and services (1.1 percent).

Facility investment increased by 8.7 percent on month due to an increase in both machinery and transportation equipment, while construction equipment increased 2.5 percent on month due to an increase in civil engineering work.

The cyclical change of the Moving Composite Index eased 0.1 percentage point and the cyclical change of the Leading Composite Index rose 0.1 percentage point.

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