S.Korea's production, consumption, investment fall in October

Source: Xinhua| 2019-11-29 13:37:25|Editor: Liu
Video PlayerClose

SEOUL, Nov. 29 (Xinhua) -- South Korea's industrial production, private consumption and facility investment reduced last month simultaneously, marking the first "triple" fall in eight months, a government report showed Friday.

The seasonally-adjusted output in all industries, which exclude the agriculture, forestry and fishery industries, dipped 0.4 percent in October from a month earlier, according to Statistics Korea.

The industrial output kept sliding for the second straight month as the continued slump in export weakened activity among manufacturers.

Production in the mining and manufacturing industries diminished 1.7 percent last month as the global supply glut of display panels and the weaker demand for large-sized sedans negatively affected the automotive and electronic parts sectors.

The country's export, which accounts for about half of the export-driven economy, continued a downward trend for the 11th consecutive month through October amid the global trade spat and the global chip industry's downturn.

Semiconductor shipment declined 6.4 percent in the cited month, with chip inventory increasing 8.6 percent.

Manufacturers posted an average capacity ratio of 73.2 percent in October, the lowest in four months. It was down 2.3 percentage points from a month ago.

Production in the services industry grew 0.3 percent in October from the previous month on stronger demand for food and lodging services. Outside activity increased in the month when the autumn foliage season came.

Retail sale, which reflects private consumption, shed 0.5 percent in October from a month earlier, continuing to fall for two straight months on the back of tender demand for durable goods.

Facility investment declined 0.8 percent in the month, turning downward in five months.

Completed construction gained 1.7 percent last month on a monthly basis due to a one-off factor relevant to the large-scale urban development project in the country's western port city of Incheon.