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South Korea Industrial Output Climbs 7.2% In June

(RTTNews) - Industrial production in South Korea was up a seasonally adjusted 7.2 percent on month in June, Statistics Korea said on Friday.

That blew away expectations for an increase of 2.1 percent following the 6.7 percent decline in May.

On a yearly basis, industrial production eased 0.5 percent - but that also handily beat forecasts for a fall of 4.9 percent following the 9.6 percent drop in the previous month.

The Index of all industry production in June increased 4.2 percent on month and 0.7 percent on year.

The Manufacturing Production Index in June increased 7.4 percent from the previous month but decreased 0.4 percent from the same period of the previous year.

The Manufacturing Shipment Index in June increased 8.4 percent on month but fell 2.4 percent on year. The Manufacturing Inventory Index slipped 1.4 percent on month but increased 2.0 percent on year. The Production Capacity Index rose 0.1 percent om month and 1.5 percent on year.

The Index of Capacity Utilization Rate in June increased 7.8 percent on month but shed 4.0 percent on year. The Manufacturing Average Capacity Utilization Rate in June marked 68.3 percent, up 4.9 percentage points from the previous month. The Index of Services increased 2.2 percent on month but eased 0.1 percent on year.

The Retail Sales Index in June increased 2.4 percent on month and 6.3 percent on year. The Equipment Investment Index gained 5.4 percent on month and 13.9 percent om year.

The Domestic Machinery Shipment Index in June increased 7.8 percent on year, while the value of Domestic Machinery Orders Received spiked 19.0 percent on year.

The value of Construction Completed at constant prices rose 0.4 percent on month but fell 2.7 percent on year. The value of Construction Orders Received at current prices surged 60.2 percent on year.

The Composite Coincident Index in June added 0.5 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, added 0.2 points from the previous month.

The Composite Leading Index in June increased by 0.6 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.

Also on Friday, Statistics Korea said that retail sales were up a seasonally adjusted 3.4 percent on month in June - roughly in line with expectations and down from the 4.6 percent growth in May.

On a yearly basis, retail sales climbed 6.3 percent, which exceeded forecasts for 5 percent and was up from 1.7 percent in the previous month.
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