Industries News.Net

S. Korea's industrial output rises for 4th month in February

29 Mar 2024

SEOUL, March 29 (Xinhua) -- South Korea's industrial output rose for the fourth successive month due to production increases in semiconductors, machinery equipment and electronic parts, statistical office data showed Friday.

The seasonally-adjusted production index in all industries, which exclude the agriculture, livestock and fishery sector, expanded 1.3 percent in February from a month earlier, continuing to grow since November last year, according to Statistics Korea.

Production among manufacturers advanced 3.4 percent in February on a monthly basis after retreating 0.5 percent in December last year and 1.5 percent in January.

Semiconductor production rebounded 4.8 percent in February after sliding 8.2 percent in the previous month, while output in machinery equipment and electronic parts increased in double digits.

Output in communication devices and broadcasting equipment reduced 10.2 percent last month after surging 47.0 percent in the prior month.

The ratio of inventory to shipment in the manufacturing industry went down 1.4 percentage points over the month to 110.1 percent in February.

Manufacturers recorded an average capacity ratio of 74.6 percent in February, up 2.5 percentage points compared to the previous month.

Production in the construction industry declined 1.9 percent, but output in the public administration sector gained 1.4 percent last month.

Output in the service industry increased 0.7 percent in February, turning around from a reduction of 0.2 percent in the previous month.

The seasonally-adjusted retail sale index, which reflects private consumption, tumbled 3.1 percent in February from a month earlier, marking the fastest decrease in seven months.

Facility investment jumped 10.3 percent last month, posting the fastest expansion in over nine years since November 2014, while completed construction shrank 1.9 percent.

The cyclical variation factor for leading economic indicators, which gauges the outlook for future economic situations, added 0.1 points to 100.4 in February compared to the previous month.

The reading for coincident economic indicators, which measures the current economic condition, gained 0.2 points to 99.9 in the cited month.

Copyright ©1998-2024 Industries News.Net | Mainstream Media Limited - All rights reserved