S. Korea's industrial output rises in October by 6.7% on year: Statistics Korea
- 5 years ago
10월 생산•소비•투자 모두 늘어…9개월만에 트리플 증가
Production, investment and sales.
The three main indicators of South Korea's industrial output all inched up in October.
It's the first time that's happened in nine months.
Won Jung-hwan takes a closer look.
South Korea's industrial output rebounded in October.
Government data show production in all industries rose last month by zero-point-four percent... on an increase in metal processing and logistics production.
The manufacturing sector saw production go up by one percent, while the service sector saw a rise of zero-point-three percent.
Compared to a year earlier, industrial production surged in October by 6-point-7 percent.
But the reason was simply that there were more working days in the month.
"For the month of October, industrial activity index has shown about 7 percent increase over the last year but that's mainly because the basement period, by which means that days of work for the month of October in 2017 was 21 days and this year is 26 days so there is 5 day increase over the year."
Meanwhile, retail sales rose by two tenths of a percent on month, led by automobiles and clothing. And facility investment jumped nearly two percent,… for a second monthly gain in a row.
But November is shaping up to be significantly weaker.
"The main engine for Korean economic growth has been the export of semiconductor, and that industry is showing a significant fall. And thats why we believe we're going to have very slow economic activity and industrial activity down the road throughout the rest of the year,... because the price of semiconductors has been falling dramatically for the month of October and November"
Most economic indicators improved in October but probably not enough to turn around the overall economic cycle.
Won Jung-hwan, Arirang News.
Production, investment and sales.
The three main indicators of South Korea's industrial output all inched up in October.
It's the first time that's happened in nine months.
Won Jung-hwan takes a closer look.
South Korea's industrial output rebounded in October.
Government data show production in all industries rose last month by zero-point-four percent... on an increase in metal processing and logistics production.
The manufacturing sector saw production go up by one percent, while the service sector saw a rise of zero-point-three percent.
Compared to a year earlier, industrial production surged in October by 6-point-7 percent.
But the reason was simply that there were more working days in the month.
"For the month of October, industrial activity index has shown about 7 percent increase over the last year but that's mainly because the basement period, by which means that days of work for the month of October in 2017 was 21 days and this year is 26 days so there is 5 day increase over the year."
Meanwhile, retail sales rose by two tenths of a percent on month, led by automobiles and clothing. And facility investment jumped nearly two percent,… for a second monthly gain in a row.
But November is shaping up to be significantly weaker.
"The main engine for Korean economic growth has been the export of semiconductor, and that industry is showing a significant fall. And thats why we believe we're going to have very slow economic activity and industrial activity down the road throughout the rest of the year,... because the price of semiconductors has been falling dramatically for the month of October and November"
Most economic indicators improved in October but probably not enough to turn around the overall economic cycle.
Won Jung-hwan, Arirang News.