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Financial News: South Korea Industrial Output Slides 1.3% In January

South Korea Industrial Output Slides 1.3% In January

02/27/2020 - 19:16:00 (RTTNews)

(RTTNews) - Industrial production in South Korea dropped a seasonally adjusted 1.3 percent on month in January, Statistics Korea said on Friday - following the 3.7 percent jump in December.

On a yearly basis, industrial production dropped 2.4 percent following the 6.2 percent spike in the previous month.

The index of all industry production was up 0.1 percent on month in January and down 0.5 percent on year.

The Manufacturing Production Index in January shed 1.2 percent on month and 2.2 percent on year, while the Manufacturing Shipment Index dropped 3.5 percent on month and 6.4 percent on year. The Manufacturing Inventory Index climbed 4.1 percent on month and 3.6 percent on year.

The Production Capacity Index in January fell 0.7 percent on month but increased 0.8 percent on year. The Index of Capacity Utilization Rate gained 0.8 percent on month but dropped 4.8 percent on year. The Manufacturing Average Capacity Utilization Rate in January marked 75.8 percent, up 0.6 percentage points from the previous month.

The Index of Services in January added 0.4 on month and 0.7 percent on year. The Retail Sales Index in January sank 3.1 percent on month but climbed 1.8 percent on year. The Equipment Investment Index tumbled 6.6 percent on month and 3.8 percent on year.

The Domestic Machinery Shipment Index in January lost 5.1 percent on year. The value of Domestic Machinery Orders Received in January surged 24.0 percent from the same period of the previous year.

In January, the value of Construction Completed at constant prices advanced 3.3 percent on month but fell 4.8 percent on year. The value of Construction Orders Received at current prices shed 6.4 percent on year. The Composite Coincident Index in January increased by 0.4 percent from the previous month.

The Cyclical Component of Composite Coincident Index, which reflects current economic situations, added 0.3 points on month. While the Composite Leading Index gained 0.4 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, increased by 0.1 points from the previous month.

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