Financial News: South Korea Industrial Production Rallies 1.7% In December

South Korea Industrial Production Rallies 1.7% In December

(RTTNews) - Industrial output in South Korea was up a seasonally adjusted 1,7 percent on month in December, Statistics Korea said on Friday.

That well exceeded expectations for an increase of 0.5 percent and was up from 0.6 percent in November.

On a yearly basis, production slipped 0.3 percent - but that also beat expectations for a drop of 2.1 percent following the 1.4 percent contraction in the previous month.

The Index of All Industry Production was up 1.5 percent on month and 1.8 percent on year.

The Manufacturing Production index climbed 1.9 percent on month but fell 0.4 percent on year. The Manufacturing Shipment Index jumped 2.5 percent on month but lost 1.9 percent on year. The Manufacturing Inventory Index added 0.7 percent on month but sank 4.2 on year.

The Production Capacity Index was flat on month but dipped 0.2 percent on year. The Index of Capacity Utilization Rate climbed 2.4 percent on month and 1.3 percent on year. The Manufacturing Average Capacity Utilization Rate in December marked 72.7 percent, up 1.7 percentage points from the previous month. The Index of Services fell 1.1 percent on month and 3.7 percent on year.

The bureau also said that retail sales gained 0.9 percent on month in December, beating forecasts for a decline of 1.0 percent after slipping 3.3 percent a month earlier.

The Equipment Investment Index slumped 3.6 percent on month and 10.3 percent on year. The Domestic Machinery Shipment Index in December dropped 3.4 percent on year. The value of Domestic Machinery Orders Received in December jumped an annual 6.9 percent.

In December, the value of construction completed at constant prices increased by 12.1 percent on month but decreased 4.2 percent on year. The value of construction orders received at current prices spiked an annual 18.7 percent.

The Composite Coincident Index in December showed no change from the previous month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, eased 0.2 points from the previous month.

The Composite Leading Index in December increased by 0.8 percent from the previous month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, increased by 0.6 points from the previous month.

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