Industrial production in South Korea advanced 3.3 percent on month in February, Statistics Korea said on Thursday.
That beat forecasts for a flat reading following the downwardly revised 2.1 percent decline in January (originally -1.8 percent).
On a yearly basis, industrial production advanced 2.4 percent – also beating expectations for a gain of 0.5 percent following the downwardly revised 2.2 percent contraction in the previous month (originally -1.9 percent).
The all-industry activity index was up 0.8 percent on month and 2.4 percent on year. The Manufacturing Production Index added 3.4 percent on month and 2.3 percent on year.
The Producer’s Shipment Index gained 2.5 percent on month and 0.9 percent on year. The Producer’s Inventory Index added 2.1 percent on month and 3.9 percent on year. The Production Capacity Index gained 0.1 percent on month and 0.5 percent on year.
The Index of Capacity Utilization Rate collected 1.7 percent on month in February and 0.4 percent on year. The Manufacturing Average Capacity Utilization Rate was 73.5 percent, up 1.2 percentage point from the previous month. The Index of Services climbed 0.3 percent on month and 2.6 percent on year.
The Retail Sales Index dipped 1.8 percent on month in February but advanced 3.1 percent on year. The Equipment Investment Index slipped 6.8 percent on month and 7.5 percent on year.
The Domestic Machinery Shipment Index tumbled 9.1 percent on year. The value of Domestic Machinery Orders Received in February surged 21.8 percent on year. The value of Construction Completed at constant prices added 1.7 percent on month and 9.8 percent on year. The value of Construction Orders Received at current prices surged 85.3 percent on year.
The Composite Coincident Index added 0.3 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, eased 0.1 points from the previous month.
The Composite Leading Index in February added 0.4 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, fell 0.1 points from the previous month.
Also on Thursday, the bureau said that retail sales fell 1.8 percent on month in February and gained 3.1 percent on year.
That follows the 1.3 percent monthly decline and the 4.6 percent yearly gain in January.
The material has been provided by InstaForex Company – www.instaforex.com