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South Korea Industrial Production Climbs 1.0% In January

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Industrial output in South Korea advanced a seasonally adjusted 1.0 percent on month in January, Statistics Korea said on Friday.

That follows the 1.7 percent decline in December.

On a yearly basis, industrial production jumped 4.6 percent after dropping 4.6 percent in the previous month.

The index of all industry production was up 1.2 percent on month and 4.5 percent on year.

The Manufacturing Production Index gained 1.6 percent on month and 4.3 percent on year in January.

The Producer's Shipment Index added 1.1 percent on month and 3.6 percent on year in January. The Producer's Inventory Index gained 0.9 percent on month and 9.7 percent on year. The Production Capacity Index eased 0.6 percent on month but gained 0.5 percent on year.

The Index of Capacity Utilization Rate gained 0.2 percent on month and 2.2 percent on year. The Manufacturing Average Capacity Utilization Rate was 70.4 percent, up 0.2 percentage points from the previous month.

The Index of Services added 0.8 percent on month and 3.6 percent on year in January. The Retail Sales Index jumped 1.7 percent on month and 1.4 percent on year. The Equipment Investment Index surged 6.2 percent on month and 22.5 percent on year.

The Domestic Machinery Shipment Index spiked 14.6 percent on year in January. The value of Domestic Machinery Orders Received advanced 14.3 percent on year.

The value of Construction Completed at constant prices climbed 8.2 percent on month and 15.6 percent on year. The value of Construction Orders Received at current prices soared 30.8 percent on year.

The Composite Coincident Index gained 0.4 percent on month in January. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, added 0.1 points on month.

The Composite Leading Index advanced 0.5 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, gained 0.1 percent on month.

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