SEOUL, Sept. 30 (Xinhua) -- South Korea's industrial output fell for two straight months in August owing to sluggish semiconductor production, statistical office data showed Friday. The seasonally-adjusted production in all industries, which exclude the agriculture, livestock and fishery sector, came in at 117.4 in August, down 0.3 percent from the previous month, according to Statistics Korea. It continued to slide for the second successive month after reducing by 0.3 percent in July. Production in the mining and manufacturing industry retreated 1.8 percent last month due mainly to the sharp fall in semiconductor output, which tumbled 14.2 percent on a monthly basis. Uncertainty mounted over the chip sector on the back of weaker global demand. Fast rate hikes in major economies boosted worry about the global economic downturn. Production among manufacturers went down 1.6 percent in August from a month earlier after skidding 1.6 percent in July. Inventory in the manufacturing sector shrank 0.4 percent. Manufacturers recorded an average capacity ratio of 75.2 percent in August, unchanged from the prior month. Output in chemical products and electrical equipment declined 5.0 percent and 4.4 percent each. Production in the public administration sector dipped 9.3 percent last month, but output in the construction industry rose 5.0 percent. Output in the services industry gained 1.5 percent as the eased measures against the COVID-19 pandemic bolstered outside activity and consumption. Production in the wholesale and retail, and the arts, sports and leisure sectors expanded 3.7 percent and 2.6 percent respectively. The retail sale index, which reflects private consumption, stood at 122.9 in August, up 4.3 percent from the previous month. It marked the first rebound in six months, after sliding 0.7 percent in March, 0.3 percent in April, 0.1 percent in May, 1.0 percent in June and 0.4 percent in July respectively. The sale of durable goods, such as automobiles and home appliances, increased 4.2 percent last month, and those for non-durable and semi-durable goods grew 5.2 percent and 2.2 percent each on solid demand for clothing and food. Facility investment expanded 8.8 percent in August from a month earlier, turning around from a 3.5-percent decrease in July thanks to robust demand for machinery and transport equipment. Completed construction grew 5.0 percent in August after diminishing by 2.9 percent in the previous month. The cyclical variation factor for leading economic indicators, which gauges the outlook for the future economic situation, slipped 0.2 points over the month to 99.3 in August. The reading for coincident economic indicators, which measures the current economic conditions, added 0.5 points to 102.3 last month.
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