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Industrial Output Rises for 3rd Month

Written: 2024-03-04 09:25:23Updated: 2024-03-04 11:12:34

Industrial Output Rises for 3rd Month

Photo : YONHAP News

Industrial output increased for the third consecutive month in January on the back of a rebound in the construction industry.

Statistics Korea said on Monday that the index of the nation’s overall industrial production edged up zero-point-four percent from a month earlier to come in at 113-point-eight in January, posting growth for three months in a row.

Production in the construction industry increased 12-point-four percent, rebounding for the first time in four months.

The output in the mining sector, however, decreased one-point-three percent month-on-month in January. Output in semiconductor production slipped eight-point-six percent, the first fall in three months.

Retail sales, a key indicator of consumption levels, climbed zero-point-eight percent from the previous month, while facility investment slipped five-point-six percent in January.

The composite coincident indicator measuring the current phase of the business cycle edged up by zero-point-one points month-on-month to 99-point-seven, while the composite leading indicator projecting the future business cycle remained unchanged at 100-point-three.

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