The Korea Herald

지나쌤

Korea's industrial output rebounds in November

By Yonhap

Published : Dec. 28, 2017 - 09:28

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South Korea's industrial output rebounded in November from a month earlier on an improvement in the automaking and machinery sectors, government data showed Thursday.

Production in the mining, manufacturing, gas and electricity industries rose 0.2 percent on-month in November, following an adjusted 1.5 percent on-month dip in the previous month, according to the data by Statistics Korea.

From a year earlier, industrial output, however, sank 1.6 percent, following a 6.1 percent on-year decline in October.

Production in the service sector increased 2.5 percent on-month, with a 4.1 percent on-year gain.

Retail sales gained 5.6 percent on-month in November, turning around from a 2.9 percent drop in the previous month, with a 6.5 percent on-year rise in November.

(Yonhap) (Yonhap)

The November rise marks the highest since February 2009, when the comparable figure was the 5.8 percent on-month gain.

For all industries, production gained 1.2 percent on-month and 1.7 percent on-year, a turnaround from a 1.8 percent on-month drop in the previous month, the data showed.

The statistics office said an upturn in car production and machinery equipment contributed to the increase in the November figures.

Production of vehicles rose 4.2 percent last month from a month earlier, and chipmakers' facility expansions jacked up the machinery equipment sector's output.

Corporate investment also rebounded, soaring 10.1 percent, as investment for machinery and transportation equipment climbed 12.7 percent and 3.6 percent, respectively.

The 10.1 percent jump is the highest since March this year when facility investment expanded 13.4 percent.

The South Korean economy, Asia's fourth largest, is expected to grow 3.2 percent this year and to expand 3 percent on robust outbound shipments and recovering private spending. (Yonhap)