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Financial News: South Korea Industrial Output Rises 3.5% In December

South Korea Industrial Output Rises 3.5% In December

01/30/2020 - 18:39:00 (RTTNews)

(RTTNews) - Industrial production in South Korea gained a seasonally adjusted 3.5 percent on month in December, Statistics Korea said on Friday - following the 0.5 percent decline in November.

On a yearly basis, industrial production climbed 4.2 percent after sliding 0.2 percent in the previous month.

The industry of all industry production was up 1.4 percent on month and 3.2 percent on year.

The Manufacturing Production Index in December added 3.8 percent on month and 4.8 percent from the same period of the previous year. The Manufacturing Shipment Index gained 4.5 percent on previous month and 4.4 percent on year. The Manufacturing Inventory Index fell 2.7 percent on month and 1.8 percent on year.

The Production Capacity Index eased 0.1 percent on month and 0.9 percent on year, while the Index of Capacity Utilization Rate rose 3.4 percent on month and 2.8 percent on year.

The Manufacturing Average Capacity Utilization Rate was 74.3 percent, up 2.4 percentage points on month. The Index of Services fell 0.1 percent on month but gained 2.8 percent on year.

The Retail Sales Index gained 0.3 percent on month and 4.6 percent on year. The Equipment Investment Index jumped 10.9 percent on month and 11.1 percent on year.

The Domestic Machinery Shipment Index in December climbed 11.2 percent on year, while the value of Domestic Machinery Orders Received surged 40.9 percent on year.

The value of Construction Completed at constant prices gained 4.1 percent on month but lost 2.1 percent on year. The value of Construction Orders Received at current prices spiked 13.2 percent on year.

The Composite Coincident Index rose 0.4 percent on month. While the Cyclical Component of Composite Coincident Index, which reflects current economic situations, added 0.2 points on month.

The Composite Leading Index in December increased by 0.7 percent from the previous month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, increased by 0.4 points from the previous month.

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