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South Korea Industrial Production Slides 1.8% On Month In August

Industrial output in South Korea was down a seasonally adjusted 1.8 percent on month in August, Statistics Korea said on Friday.

That missed expectations for a decline of 0.5 percent on month following the 1.3 percent contraction in July.

On a yearly basis, industrial production rose 1.0 percent - again shy of forecasts for an increase of 1.3 percent and down from 1.5 percent in the previous month.

The index of all industry production dipped 0.3 percent on month nut climbed 4.5 percent on year in August.

The Manufacturing Production Index fell 1.6 percent on month but increased 0.8 percent on year in August, while the Manufacturing Shipment Index was flat on month and up 1.1 percent on year. The Manufacturing Inventory Index eased 0.4 percent on month but jumped 12.3 percent on year.

The Production Capacity Index shed 0.5 percent on month and 0.7 percent on year. The Index of Capacity Utilization Rate showed no change from the previous month but increased 1.3 percent on year.

The Manufacturing Average Capacity Utilization Rate was 75.2 percent in August, unchanged from the previous month. The Index of rose 1.5 percent on month and 7.1 percent on year. The Retail Sales Index added 4.3 percent on month and 2.3 percent on year.

The Equipment Investment Index climbed 8.8 percent on month and 11.8 percent on year. The Domestic Machinery Shipment Index gained 1.7 percent on year. The value of Domestic Machinery Orders Received spiked an annual 22.7 percent.

The value of Construction Completed at constant prices advanced 5.0 percent on month and 7.5 percent on year. The value of Construction Orders Received at current prices lost 4.2 percent on year.

The Composite Coincident Index rose 0.7 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, added 0.5 points from the previous month.

The Composite Leading Index in August rose 0.1 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, eased 0.2 points from the previous month.

Also on Friday, Statistics Korea said that the total value of retail sales in South Korea was down a seasonally adjusted 1.8 percent on month in August. That was shy of expectations for a decline of 1.0 percent following the 0.3 percent fall in July.

On a yearly basis, retail sales advanced 2.2 percent - exceeding forecasts for an increase of 1.5 percent following the 1.9 percent contraction a month earlier.

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