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South Korea Industrial Production Adds 1.8% In August

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Industrial production in South Korea climbed a seasonally adjusted 1.8 percent in August compared to the previous three months, Statistics Korea said on Monday.

That beat expectations for an increase of 1.1 percent following the downwardly revised 0.3 percent contraction in July (originally called -0.1 percent.

On a yearly basis, industrial production spiked 3.3 percent - also topping forecasts for an increase of 3.0 percent following the 0.9 percent increase in the previous month.

All-industry production added 1.0 percent on month and 2.8 percent on year in August, the statistics bureau said.

The index of professional, scientific and technical activities went down but manufacturing, financial and insurance activities and public administration went up from the previous month, the bureau said. The index of financial and insurance activities went down but manufacturing, construction and human health and social work activities went up on year.

The Manufacturing Production Index gained 1.8 percent on month and 3.4 percent on year.

The Producer's Shipment Index added 2.3 percent on month and 4.7 percent on year. The Producer's Inventory Index eased 0.2 percent on month but jumped 3.4 percent on year. The Production Capacity Index gained 0.3 percent on month and 1.4 percent on year.

The Operation Ratio Index jumped 3.1 percent on month and 2.7 percent on year. The Manufacturing Average Operation Ratio was 76.5 percent, up 2.3 percentage points from the previous month. The Index of Services gained 0.7 percent on month and 1.3 percent on year.

The Retail Sales Index collected 0.4 percent on month and 2.5 percent on year. The Equipment Investment Index added 0.2 percent on month and 4.6 percent on year.

The Domestic Machinery Shipment Index plunged 3.8 percent on year. The value of Domestic Machinery Orders Received surged 6.4 percent on year.

The value of construction completed at constant prices increased 0.1 percent on month and 16.8 percent on year. The value of construction completed at current prices was up 2.2 percent on month and 17.1 percent on year. The value of construction orders received at current prices dropped 11.5 percent on year.

The Composite Coincident Index added 0.6 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, was up 0.2 points on month.

The Composite Leading Index in August gained 0.7 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, was up 0.3 points from the previous month.

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