Friday July 31, 08:49 AM
Fall in SKorea industrial output eases in June
SEOUL (AFP) - South Korea's industrial output in June fell 1.2 percent year on year but at the slowest pace in nine months, official data showed Friday, raising hopes the economy was on a path to recovery.
The figure followed a nine-percent contraction in May and strengthened expectations that the rebound may continue into the second half, Daewoo Securities (006800.KS - news) analyst Go You-Sun told Dow Jones Newswires.
Production rose 5.7 percent from May, marking the sixth straight month of improvement, the National Statistical Office said.
It looks "much better than we had anticipated as IT and carmaking industries were helped by government policies," he said.
Output in the service sector was up 2.6 from a year earlier, compared with a a 0.5 percent gain in May.
Sales of consumer goods rose 7.3 percent in June from a year earlier, compared with a 1.6 percent gain in May.
Corporate investment in facilities declined 5.6 percent year-on-year in June but expanded 9.5 percent from a month earlier, while factories operated at 76.5 percent of their capacity.
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
