Industrial output in South Korea climbed 2.5 percent on month in May, Statistics Korea said on Thursday.
That beat forecasts for a flat reading following the 0.8 percent decline in April.
On a yearly basis, industrial production climbed 4.3 percent – topping expectations for a fall of 1.0 percent following the 0.8 percent increase in the previous month.
The all-industry activity index was up 1.7 percent on month and 4.8 percent on year. The Manufacturing Production Index added 2.6 percent on month and 4.5 percent on year.
The Producer's Shipment Index gained 1.0 percent on month and 3.7 percent on year. The Producer's Inventory Index added 0.3 percent on month and 0.5 percent on year. The Production Capacity Index was flat on month and gained 0.5 percent on year.
The Index of Capacity Utilization Rate collected 2.1 percent on month in May and 0.7 percent on year. The Manufacturing Average Capacity Utilization Rate was 72.8 percent, up 1.5 percentage point from the previous month. The Index of Services climbed 0.1 percent on month and 3.4 percent on year.
The Retail Sales Index added 0.6 percent on month in May and 5.1 percent on year. The Equipment Investment Index was flat on month and climbed 2.9 percent on year.
The Domestic Machinery Shipment Index added 0.2 percent on year. The value of Domestic Machinery Orders Received in May gained 0.6 percent on year. The value of construction completed at constant prices added 2.9 percent on month and 20.2 percent on year. The value of Construction Orders Received at current prices tumbled 25.5 percent on year.
The Composite Coincident Index added 0.4 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 May added 0.3 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, was flat on month.
Also on Thursday, the bureau said that retail sales added 0.6 percent on month in May and gained 5.1 percent on year.
That follows the 0.5 percent monthly decline and the 4.2 percent yearly gain in April.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
