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Financial News: South Korea Industrial Output Gains 4.6% In March

South Korea Industrial Output Gains 4.6% In March

04/28/2020 - 20:15:00 (RTTNews)

(RTTNews) - Industrial output in South Korea was up a seasonally adjusted 4.6 percent on month in March, Statistics Korea said on Wednesday - following the 3.8 percent decline in February.

On a yearly basis, industrial output jumped 7.1 percent after spiking 11.3 percent in the previous month.

The Index of all industry production in March sank 0.3 percent on month and gained 0.6 percent on year.

The Manufacturing Production Index added 4.6 percent on month and 7.6 percent on year, while the Manufacturing Shipment Index rose 6.4 percent on month and 3.5 percent on year. The Manufacturing Inventory Index fell 0.6 percent on month but gained 5.7 percent on year.

The Production Capacity Index rose 0.2 percent on month and 1.3 percent on year. The Index of Capacity Utilization Rate climbed 4.8 percent on month and 4.8 percent on year.

The Manufacturing Average Capacity Utilization Rate in March marked 74.1 percent, up 3.4 percentage points from the previous month. The Index of Services in March fell 4.4 percent from the previous month and 5.0 percent from the same period of the previous year.

The Retail Sales Index in March fell 1.0 percent on month and 8.0 percent on year. The Equipment Investment Index jumped 7.9 percent on month and 9.8 percent on year.

The Domestic Machinery Shipment Index in March increased 2.4 percent on year, while the value of Domestic Machinery Orders Received spiked an annual 12.2 percent.

The value of Construction Completed at constant prices increased 2.6 percent on month and 1.5 percent on year. The value of Construction Orders Received at current prices plummeted an annual 28.4 percent.

The Composite Coincident Index in March fell 1.1 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, lost 1.2 points on month.

The Composite Leading Index in March eased 0.4 percent. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, dropped 0.6 points from the previous month.

For the first quarter of 2020, industrial production fell 0.1 percent on quarter and was up 4.9 percent on year after rising 1.1 percent on quarter and falling 2.4 percent on year in the three months prior.

South Korea's retail sales were down 1.0 percent on month and 8.0 percent on year in March, Statistics Korea also reported on Wednesday. That followed the 6.0 percent monthly decline and the 2.3 percent yearly drop in February.

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