South Korea Industrial Production Falls In August

Industrial output in South Korea tumbled 3.8 percent on month in August, Statistics Korea said on Tuesday.

That was well shy of forecasts for an increase of 0.4 percent following the upwardly revised 1.5 percent gain in July (originally 1.1 percent).

On a yearly basis, industrial production fell 2.8 percent – also missing expectations for a gain of 2.5 percent following the upwardly revised 3.9 percent jump in the previous month (originally 3.4 percent).

The index of all industry production was down 0.6 percent on month and up 0.6 percent on year. The Manufacturing Production Index in August fell 3.8 percent on month and 2.7 percent on year.

The Producer’s Shipment Index lost 2.7 percent on month and 3.0 percent on year. The Producer’s Inventory Index shed 1.9 percent on month but gained 5.3 percent on year. The Production Capacity Index added 0.3 percent on month and 1.4 percent on year.

The Index of Capacity Utilization Rate dropped 5.4 percent on month and 4.4 percent on year. The Manufacturing Average Capacity Utilization Rate was 74.0 percent, down 4.2 percentage points from the previous month.

The Index of Services gained 0.3 percent on month and 2.1 percent on year. The Retail Sales Index advanced 2.7 percent on month and 2.1 percent on year.

The Equipment Investment Index tumbled 10.6 percent on month and 9.8 percent on year. The Domestic Machinery Shipment Index eased 0.8 percent on year. The value of Domestic Machinery Orders Received surged 153.6 percent on year.

The value of construction completed at constant prices added 1.0 percent on month but fell 0.4 percent on year. The value of construction orders received at current prices surged79.3 percent on year.

The Composite Coincident Index gained 0.7 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, added 0.3 points on month.

The Composite Leading Index jumped 1.2 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, collected 0.8 points on month.

Published: 2014-09-30 01:45:00 UTC+00

South Korea Industrial Production Falls In August