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Financial News: South Korea Industrial Output Falls 0.8% In September

South Korea Industrial Output Falls 0.8% In September

10/28/2021 - 19:25:00 (RTTNews)

(RTTNews) - Industrial output in South Korea was down a seasonally adjusted 0.8 percent on month in September, Statistics Korea said on Friday.

That missed expectations for a decline of 0.3 percent following the 0.7 percent drop in August.

On a yearly basis, industrial production sank 1.8 percent - again missing expectations for an increase of 1.4 percent following the upwardly revised 9.7 percent increase in the previous month (originally 9.6 percent).

The index of all-industry production was up 1.3 percent on month and 1.4 percent on year in September.

The Manufacturing Production Index in September fell 0.9 percent on month and 1.9 percent on year. The Manufacturing Shipment Index rose 0.2 percent on month but tumbled 5.6 percent on year. The Manufacturing Inventory Index added 1.2 percent on month and 3.3 percent on year.

The Production Capacity Index in September rose 0.1 percent on month and 0.5 percent on year. The Index of Capacity Utilization Rate shed 0.8 percent on month and 4.5 percent on year. The Manufacturing Average Capacity Utilization Rate was 73.5 percent, down 0.6 percentage points from the previous month. The Index of Services gained 1.3 percent on month and 3.3 percent on year.

The Retail Sales Index in September climbed 2.5 percent on month and 3.7 percent on year. The Equipment Investment Index lost 1.0 percent on month and 4.5 percent on year.

The Domestic Machinery Shipment Index in September climbed 1.6 percent on year. The value of Domestic Machinery Orders Received in September spiked 14.6 percent on year.

The value of Construction Completed at constant prices increased 3.5 percent on month but decreased 8.4 percent on year. The value of Construction Orders Received at current prices tumbled 22.7 percent on year.

The Composite Coincident Index in September rose 0.2 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, was flat on month.

The Composite Leading Index was also flat on month in September. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, fell 0.3 points from the previous month.

Also on Friday, Statistics Korea said that the value of retail sales in South Korea was up a seasonally adjusted 2.5 percent on month in September. That beat forecasts for a gain of 2.0 percent following the 0.8 percent decline in August.

On a yearly basis, retail sales jumped 3.7 percent, matching expectations and down slightly from 3.8 percent in the previous month.

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