South Korea Industrial Production Gains 0.6% In November

(RTTNews) - Industrial output in South Korea climbed a seasonally adjusted 0.6 percent on month in November, Statistics Korea said on Tuesday.

That missed forecasts for an increase of 2.2 percent following the downwardly revised 4.2 percent contraction in October (originally -4.0 percent).

On a yearly basis, production stumbled 1.4 percent - also missing expectations for a gain of 3.0 percent after sinking a downwardly revised 8.2 percent in the previous month (originally -8.1 percent).

The Index of All Industry Production was up 0.9 percent on month and 0.3 percent on year in November.

The Manufacturing Production index rose 0.7 percent on month but fell 1.5 percent on year. The Manufacturing Shipment Index added 1.6 percent on month but shed 0.5 percent on year. The Manufacturing Inventory Index in November increased 0.6 percent on month but fell 7.3 percent on year.

The Production Capacity Index eased 0.1 percent on month but rose 0.4 percent on year. The Index of Capacity Utilization Rate added 0.1 percent on month but lost 2.1 percent on year. The Manufacturing Average Capacity Utilization Rate came in at 70.9 percent, up 0.1 percentage points from the previous month.

The Index of Services increased 0.7 percent on month and 3.0 percent on year. Retail sales were down 3.3 percent on month and up 0.8 percent on year.

The Equipment Investment Index jumped 1.5 percent on month but fell 0.1 percent on year. The Domestic Machinery Shipment Index sank 6.3 percent on year, while the value of Domestic Machinery Orders Received spiked an annual 16.9 percent.

The value of Construction Completed at constant prices advanced 6.6 percent on month but lost 17.0 percent on year. The value of Construction Orders Received at current prices stumbled 9.2 percent on year.

The Composite Coincident Index dipped 0.2 percent on month, while the Cyclical Component of Composite Coincident Index, which reflects current economic situations, fell 0.4 points on month.

The Composite Leading Index added 0.6 percent on month, while the Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, increased 0.3 points from the previous month.