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South Korea's industrial output rose for the second straight month in June on the back of increased production in chips and chemical products, a government report showed Friday.
Production in the mining, manufacturing, gas and electricity industries edged up 0.8 percent last month from a year ago, according to the report by Statistics Korea.
The June figure marked the second consecutive positive growth, following a 4.7 percent jump in May.
From a month earlier, however, industrial output backtracked 0.2 percent.
Production in the service sector jumped 5.4 percent from a year earlier, with a 1 percent on-month gain.
For all industries, output jumped 4.8 percent on-year in June and climbed 0.6 percent from a month earlier, the report said.
The statistics agency said that the eased pace of decline in exports contributed to the modest gain in industrial output.
South Korea's outbound shipments fell 2.7 percent in June, slowing down from a 6 percent drop in May, on the back of rising shipments of semiconductors and vessels.
The country's exports, the key economic driver, have decreased for 18 straight months since the first month of last year, the longest negative streak in Korea's history, but they have been reducing the downward tempo in recent months after plummeting 20 percent in January this year.
"The country's production side has been on a recovering mode throughout this year, compared with the previous year," said Eo Woon-sun, director of the short-term industrial statistics division at Statistics Korea. "The on-year gain of 0.8 percent looks weak and feeble, but it's much better than a 0.6 percent decline for the whole of 2015."
Production of semiconductors largely contributed to the uptick, as it soared 45.5 percent from a year earlier, and chemical goods rose 4.6 percent on-year, offsetting a 4.4 percent fall in car manufacturing.
June's average plant utilization in the manufacturing sector reached 72.1 percent, down 0.9 percentage point from a month earlier.
Meanwhile, domestic consumption continued its upbeat pace last month to vault 8.9 percent, marking the highest on-year gain since January 2011, when it hit 10.8 percent. (Yonhap)
Production in the mining, manufacturing, gas and electricity industries edged up 0.8 percent last month from a year ago, according to the report by Statistics Korea.
The June figure marked the second consecutive positive growth, following a 4.7 percent jump in May.
From a month earlier, however, industrial output backtracked 0.2 percent.
Production in the service sector jumped 5.4 percent from a year earlier, with a 1 percent on-month gain.
For all industries, output jumped 4.8 percent on-year in June and climbed 0.6 percent from a month earlier, the report said.
The statistics agency said that the eased pace of decline in exports contributed to the modest gain in industrial output.
South Korea's outbound shipments fell 2.7 percent in June, slowing down from a 6 percent drop in May, on the back of rising shipments of semiconductors and vessels.
The country's exports, the key economic driver, have decreased for 18 straight months since the first month of last year, the longest negative streak in Korea's history, but they have been reducing the downward tempo in recent months after plummeting 20 percent in January this year.
"The country's production side has been on a recovering mode throughout this year, compared with the previous year," said Eo Woon-sun, director of the short-term industrial statistics division at Statistics Korea. "The on-year gain of 0.8 percent looks weak and feeble, but it's much better than a 0.6 percent decline for the whole of 2015."
Production of semiconductors largely contributed to the uptick, as it soared 45.5 percent from a year earlier, and chemical goods rose 4.6 percent on-year, offsetting a 4.4 percent fall in car manufacturing.
June's average plant utilization in the manufacturing sector reached 72.1 percent, down 0.9 percentage point from a month earlier.
Meanwhile, domestic consumption continued its upbeat pace last month to vault 8.9 percent, marking the highest on-year gain since January 2011, when it hit 10.8 percent. (Yonhap)
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