Economic Buzz: South Korea Industrial Production Contracts 1.8% In September

31 Oct 2022 , 01:28 PM

Industrial output in South Korea dropped a seasonally adjusted 1.8 percent on month in September, Statistics Korea reported. On a yearly basis, industrial production rose 0.8 percent – again missing estimates for an increase of 0.9 percent and down from the upwardly revised 1.5 percent increase in the previous month (originally 1.0 percent). The Index of All Industry production in September fell 0.6 percent on month and advanced 3.1 percent on year. The Manufacturing Production Index in September fell 1.8 percent on month but increased 0.8 percent on year. The Manufacturing Shipment Index dipped 0.3 percent on month but increased 1.4 percent on year. The Manufacturing Inventory Index rose 0.2 percent on month and 9.5 percent on year. The Production Capacity Index added 0.2 percent on month but fell 0.7 percent on year. The Index of Capacity Utilization Rate sank 1.0 percent on month but gained 0.5 percent on year. The Manufacturing Average Capacity Utilization Rate in September marked 74.5 percent, down 0.8 percentage points from the previous month. The Index of Services fell 0.3 percent on month but increased by 5.6 percent on year. The Retail Sales Index shed 1.8 percent on month and 0.7 percent on year. The Equipment Investment Index lost 2.4 percent on month but jumped 12.5 percent on year. The Domestic Machinery Shipment Index added 5.7 percent on year. The value of Domestic Machinery Orders Received spiked 12.9 percent on year. The Composite Coincident Index in September rose 0.2 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, added 0.1 points from the previous month. Powered by Commodity Insights