Korea’s industrial output rebounds in October


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South Korea’s industrial output rebounded in October from a month earlier, due to a rise in metal processing and logistics production, government data showed Friday.

Production in the mining, manufacturing, gas and electricity industries gained 1 percent on-month in October, following a revised 2.7 percent on-month fall in the previous month.

(Yonhap)

From a year earlier, industrial output also jumped 10.7 percent, following a revised 8.4 percent on-year drop in the previous month.

Production in the service sector gained 0.3 percent on-month in October, with a 5.4 percent on-year rise.

Retail sales advanced 0.2 percent, compared with a 2.1 percent on-month fall in September. They rose 5 percent on-year in October.

Facility investment increased 1.9 percent in October, extending its gain to the second straight month. In September, facility investment climbed 3.3 percent.

For all industries, production rose 0.4 percent on-month in October, following an adjusted 1.2 percent on-month fall in September. On a yearly basis, industrial production gained 6.7 percent, the latest data showed.

The statistical office said gains in steel-processing and logistics outputs were the major factor for growth in October’s industrial output.

Also, production of vehicles surged 28.6 percent from a year earlier, and semiconductor output rose 14.7 percent.

The average factory operation rate stood at 74 percent, up 0.2 percentage point from a month earlier.

“Most economic indicators showed improvement, but their upward moves are not strong enough to help the overall economic cycle take a turn,” said an official at the agency.

The official said it is unclear whether November’s figures will remain positive. (Yonhap)


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