2017.12.2719:15:00UTC+00South Korea Industrial Output Gains 0.2% In November

Industrial output in South Korea picked up a seasonally adjusted 0.2 percent on month in November, Statistics Korea said on Thursday.

That beat forecasts for a flat reading following the downwardly revised 1.5 percent contraction in October (originally -1.1 percent).

On a yearly basis, industrial production sank 1.6 percent, missing forecasts for a decline of 1.0 percent following the downwardly revised 6.1 percent drop in the previous month (originally -5.9 percent).

The index of all industry production was up 1.2 percent on month and 1.7 percent on year.

The Manufacturing Production Index added 0.1 percent on month but fell 1.8 percent on year in November.

The Producer's Shipment Index climbed 1.7 percent on month but lost 0.3 percent on year in October. The Producer's Inventory Index shed 1.7 percent on month but advanced 5.7 percent on year. The Production Capacity Index eased 0.2 percent on month but gained 0.5 percent on year.

The Index of Capacity Utilization Rate was flat on month and down 3.2 percent on year. The Manufacturing Average Capacity Utilization Rate was 71.3 percent, unchanged from the previous month.

The Index of Services dropped 2.5 percent on month and 4.1 percent on year in November. The Retail Sales Index jumped 5.6 percent on month and 6.5 percent on year. The Equipment Investment Index surged 10.1 percent on month and 6.3 percent on year.

The Domestic Machinery Shipment Index gained 2.0 percent on year in November. The value of Domestic Machinery Orders Received surged 20.6 percent on year.

The value of Construction Completed at constant prices shed 3.8 percent on month and 1.0 percent on year. The value of Construction Orders Received at current prices plummeted 16.4 percent on year.

The Composite Coincident Index added 0.2 percent on month in November. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, was flat on month.

The Composite Leading Index advanced 0.3 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, fell 0.1 points on month.

Also on Thursday, Statistics Korea said that retail sales in South Korea jumped 5.6 percent on month in November following the 2.9 percent decline in October.

On a yearly basis, retail sales spiked 6.5 percent following the 0.2 percent drop in the previous month.