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South Korea May Industrial Production Adds 0.1%

Industrial output in South Korea rose a seasonally adjusted 0.1 percent on month in May, Statistics Korea said on Thursday.

That missed expectations for an increase of 0.5 percent following the 3.3 percent decline in April.

On a yearly basis, industrial production climbed 7.3 percent - exceeding expectations for a gain of 3.1 percent following the upwardly revised 3.5 percent increase in the previous month (originally 3.3 percent).

The index of all industry production added 0.8 percent on month and 7.1 percent on year.

The Manufacturing Production Index in May increased by 0.1 percent on month and 7.8 percent on year. The Manufacturing Shipment Index rose 0.8 percent on month and 4.3 percent on year. The Manufacturing Inventory Index fell 1.8 percent on month but climbed 11.9 percent on year.

The Production Capacity Index eased 0.1 percent on month and 0.6 percent on year. The Index of Capacity Utilization Rate shed 1.4 percent on month but climbed 6.7 percent on year.

The Manufacturing Average Capacity Utilization Rate in May was 75.7 percent, down 1.0 percentage point from the previous month. The Index of Services in May gained 1.1 percent on month and 7.5 percent on year. The Retail Sales Index dipped 0.1 percent on month but increased 0.7 percent on year.

The Equipment Investment Index jumped 13.0 percent on month and 5.1 percent on year. The Domestic Machinery Shipment Index fell 2.7 percent on year. The value of Domestic Machinery Orders Received dropped 10.0 percent on year.

The value of Construction Completed at constant prices increased 5.9 percent on month and 8.2 percent on year. The value of Construction Orders Received at current prices spiked 18.6 percent on year.

The Composite Coincident Index rose 0.2 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, added 0.1 points on month. The Composite Leading Index gained 0.4 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, rose 0.1 points on month.

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