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Feb. Sees Triple Rise in Industrial Output, Consumption, Investment

Written: 2023-03-31 09:17:39Updated: 2023-03-31 15:05:00

Feb. Sees Triple Rise in Industrial Output, Consumption, Investment

Photo : YONHAP News

The nation witnessed a rise in industrial output and consumption as well as investment in February to post the first triple rise in 14 months.

Statistics Korea said on Friday that the index of the nation’s overall industrial production came to 109-point-four in February, up zero-point-three percent from a month earlier.

Industrial output declined in October and November and stayed flat in December before posting growth for two straight months.

Production in the mining and manufacturing industries slipped three-point-two percent in February, while output in the service industry rose zero-point-seven percent.

Retail sales, a key indicator of consumption levels, jumped five-point-three percent last month, posting a surge after declining for the preceding three months.
Facility investment increased zero-point-two percent on-month.

It marks the first time in 14 months since December 2021 that the nation witnessed gains in all three categories of industrial output, consumption and investment. 

The composite coincident indicator measuring the current phase of the business cycle rose by zero-point-four percentage points on-month to 99-point-four in February. The composite leading indicator projecting the future business cycle dropped by zero-point-three points to 98-point-five.

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