South Korea's industrial production contracted a seasonally adjusted 0.4 percent on month in June, Statistics Korea said on Tuesday - in line with expectations following the upwardly revised 1.3 percent increase in May (originally 1.1 percent)
On a yearly basis, industrial production was up 1.6 percent, beating estimates for a gain of 1.0 percent but slowing from the 2.9 percent increase in the previous month.
The index of all industry production was down 0.3 percent on month in June and up 0.1 percent on year. The Manufacturing Production Index in June shed 0.5 percent on month but increased 1.6 percent on year.
The Producer's Shipment Index in June went down 0.8 percent on month but up 1.8 percent on year. The Producer's Inventory Index fell 2.1 percent on month but jumped 10.7 percent on year. The Production Capacity Index was up 0.4 percent on month and 3.6 percent on year.
The Operation Ratio Index was down 1.5 percent on month and 2.9 percent on year. The Index of Services eased 0.4 percent on month but gained 1.2 percent on year. The Manufacturing Average Operation Ratio was 78.2 percent, down 1.2 percent from the previous month. The Retail Sales Index was down 0.5 percent on month and up 0.6 percent on year.
The Equipment Investment Index dipped 6.3 percent on month and 5.6 percent on year. The Domestic Machinery Shipment Index shed 9.9 percent on year, while the value of domestic machinery orders received plummeted 33.5 percent on year.
In June, the value of construction completed at constant prices was down 3.3 percent on month and 16.5 percent on year. The value of construction orders received at current prices climbed 2.6 percent on year.
The Composite Coincident Index in June increased 0.3 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, was unchanged from the previous month. The Composite Leading Index was up 1.0 percent on month.
The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, was up 0.5 points from the previous month.
by RTT Staff Writer
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