South Korea's industrial output falls 0.7% in June
  • 6 years ago
Statistics Korea has released its data on industrial output for June,... and they show a fall in production across various sectors including manufacturing.
Kim Hyesung has the details.
Korea's industrial production went down zero-point-seven percent on-month in June amid a sharp drop in capital investment and weaker exports.
This comes after growth in April and May.
Production in services did rise slightly by two tenths of a percent on the back of improvement in social welfare and financial services.
But it was offset by declines in mining and manufacturing.

"Semiconductor output went up in June, but output in vehicles and chemical products dropped, driving down mining and manufacturing production to zero-point-six percent on-month. Vehicle sales dropped seven percent mainly on lower exports of sedans to Europe. Chemical products dropped three-point-six percent on weaker exports of solar panel-related products to China."

The average rate of manufacturing operation fell slightly, by half a percent,... to 73-point-five percent.
Retail sales, an indicator of consumption, rose slightly on higher demand for nondurable goods like food and beverages.
Facility investment, however, continued to nosedive, dropping nearly six percent on-month in June.
It's the first time in 18 years that facility investment has fallen for four months in a row.
Statistics Korea attributed the fall to a sharp decline in machinery investment in the semiconductor sector, saying it has started to slow down from the soaring investment seen from late 2016 to early this year.
In addition, construction investment also dropped nearly five percent.
Indicators showing current and future economic outlook fell zero-point-two percent, zero-point-three percent, respectively.
Kim Hyesung, Arirang News.
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