S. Korea’s industrial output rises for 2nd month in September

SEOUL, Oct. 31– South Korea’s industrial output rose for the second consecutive month, with consumption and investment growing, statistical office data showed Tuesday. The seasonally-adjusted production index in all industries, which exclude the agriculture, livestock and fishery sectors, gained 1.1 percent in September from a month earlier after…

SEOUL, Oct. 31 (Xinhua) — South Korea’s industrial output rose for the second consecutive month, with consumption and investment growing, statistical office data showed Tuesday.

The seasonally-adjusted production index in all industries, which exclude the agriculture, livestock and fishery sectors, gained 1.1 percent in September from a month earlier after increasing 2.0 percent in the previous month, according to Statistics Korea.

Production in the mining and manufacturing industry expanded 1.8 percent last month on a monthly basis after going up 5.2 percent in the prior month.

Semiconductor output jumped 12.9 percent in the cited month, keeping a double-digit gain for the second straight month.

Machinery equipment production was up 5.1 percent, but automotive output declined 7.5 percent in September.

Among manufacturers, inventory retreated by 2.2 percent due to the reduced inventory of chips and machinery equipment.

The ratio of inventory to shipment in the manufacturing industry decreased 10.4 percentage points over the month to 113.9 percent in September.

Manufacturers recorded an average capacity ratio of 73.2 percent in September, unchanged from a month earlier.

Output in the services industry went up 0.4 percent last month on outperformance in the wholesale and retail, the transport and warehousing, the eatery and lodging and the real estate sectors.

Production in the construction and the public administration sectors expanded 2.5 percent and 2.3 percent each.

The seasonally-adjusted retail sale index, which reflects private consumption, grew 0.2 percent in September from a month earlier, marking the first rebound in three months on strong demand for food and cosmetics.

Facility investment surged 8.7 percent in September after picking up 4.0 percent in the prior month.

Completed construction rose 2.5 percent in September on a monthly basis after adding 0.5 percent in July and 3.2 percent in August.

The cyclical variation factor for leading economic indicators, which gauges the outlook for future economic situations, was up 0.1 point to 99.4 in September compared to the previous month.

The reading for coincident economic indicators, which measures the current economic condition, slipped 0.1 point to 99.3 in the cited month. Enditem