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South Korea Industrial Production Falls 2.6% In February

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Industrial output in South Korea dropped a seasonally adjusted 2.6 percent on month in February, Statistics Korea said on Friday - following the 0.2 percent increase in January.

On a yearly basis, industrial output sank 2.7 percent after easing 0.2 percent in the previous month.

The index of all industry production fell 1.9 percent on month and 1.4 percent on year.

The Manufacturing Production Index fell 2.6 percent on month and 2.5 percent on year, while the Manufacturing Shipment Index slipped 2.1 percent on month and 2.4 percent on year. The Manufacturing Inventory Index added 0.5 percent on month and 5.9 percent on year.

The Production Capacity Index dipped 0.5 percent on month and 0.7 percent on year. The Index of Capacity Utilization Rate skidded 2.9 percent on month and 2.7 percent on year. The Manufacturing Average Capacity Utilization Rate came in at 71.2 percent, down 2.1 percentage points from the previous month.

The Index of Services in February slid 1.1 percent on month and was flat on year. The Retail Sales Index in February fell 0.5 percent on month and 2.0 percent on year.

The Equipment Investment Index tumbled 10.4 percent on month and 26.9 percent on year, while the Domestic Machinery Shipment Index plunged 18.2 percent on year. The value of Domestic Machinery Orders Received gained an annual 2.4 percent.

In February, the value of Construction Completed at constant prices shed 4.6 percent on month and 10.6 percent on year. The value of Construction Orders Received at current prices plummeted an annual 26.6 percent.

The Composite Coincident Index in February eased 0.2 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, fell 0.4 points on month.

The Composite Leading Index added 0.1 percent from the previous month and the Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, slid 0.3 points on month.

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