South Korea Industrial Production Falls 0.7% In November

(RTTNews) - Industrial output in South Korea was down a seasonally adjusted 0.7 percent on month in November, Statistics Korea said on Monday - missing forecasts for a fall of 0.4 percent following the flat reading in October.

On a yearly basis, industrial output was up 0.1 percent - again shy of expectations for a gain of 0.4 percent following the 6.3 percent increase in the previous month.

The index of all-industry production was down 0.4 percent on month and 0.3 percent on year.

The Manufacturing Production Index shed 0.7 percent on month but rose 0.3 percent on year. The Manufacturing Shipment Index fell 0.4 percent on month and 3.0 percent on year. The Manufacturing Inventory Index lost 0.8 percent on month and 4.5 percent on year.

The Production Capacity Index eased 0.2 percent on month but added 0.6 percent on year. The Index of Capacity Utilization Rate was down 0.8 percent on month and 2.0 percent on year.

The Manufacturing Average Capacity Utilization Rate in November was 71.8 percent, which decreased by 0.5 percentage points from the previous month. The Index of Services in November eased 0.2 percent on month but rose 1.0 percent on year.

Retail sales were up 0.4 percent on month following the downwardly revised 0.8 percent drop in October (originally -0.4 percent); sales were down 1.9 percent on year.

The Equipment Investment Index sank 1.6 percent on month but increased 2.6 percent on year. The Domestic Machinery Shipment Index dropped 4.2 percent on year. The value of Domestic Machinery Orders Received stumbled an annual 15.3 percent.

In November, the value of Construction Completed at constant prices dipped 0.2 percent on month and 12.9 percent on year. In November, the value of Construction Orders Received at current prices surged 62.9 percent on year.

The Composite Coincident Index lost 0.3 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, fell 0.5 points from the previous month.

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