South Korea's industrial output advanced in November from a month earlier, helped by demand for cars and semiconductors and related parts, a government report showed Tuesday.
   
According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries moved up 1.3 percent last month from a month earlier. The gains come after industrial production fell 1.7 percent in the previous month. 
   
Automobiles output surged 9 percent on-month, with computer chips and parts moving up 2.9 percent. The numbers for chemicals were down 5.9 percent along with basic metals, which backtracked 2.8 percent on-month.
   
Compared with November 2013, however, output fell 3.4 percent, due to a sharp drop in production in the audio, video and telecommunication sectors and semiconductors.
  
Production in the service sector, which includes the financial and transportation sectors as well as hospitality and tech-oriented businesses, dipped 0.3 percent on-month although numbers expanded
2.1 percent from a year earlier, the report showed.
   
For all industries, output edged up 0.1 percent from October and contracted 0.5 percent vis-a-vis November 2013.
   
Data showed improved manufacturing and mining output compensating for weaker numbers in the service and construction sectors on a monthly basis.
  
"Manufacturing and mining sector production, and in particular, automobiles played a critical role in pushing up overall output numbers last month compared to October," said Jeon Baek-geun, director of the short-term industrial statistics division.
  
Output in manufacturing and mining accounted for 33.2 percent of all industrial production last month, with the service and construction sectors making up 53.7 and 6.4 percent, respectively.
   
November's gains represent the second month in a row that output for all industries moved up after contracting 0.8 percent in September. 
  
On retail sales and investment, key barometers of economic health, Statistics Korea's latest findings showed retail figures gaining 1.9 percent on-month thanks to demand for durable and non-durable goods. Sales figures also advanced 1 percent on-year. 
   
Sales of mobile phones, which dropped sharply in October, rebounded last month and pushed up retail figures.
   
In investments, moves by companies to buy machinery and various transportation equipment caused numbers to jump 13.1 percent from the month before. Investment rose 10.6 percent from a year earlier.
   
The latest data, on the other hand, showed construction work declining 1.7 percent on-month and plunging 9.6 percent from the year before. Reflecting weak demand in the construction market, new orders secured by companies nosedived 22.5 percent on-year.
   
The finance ministry said gains in manufacturing and mining, retail and facility investment helped overall output numbers last month. 
  
For the coming months, the country's top economic policymaking ministry said gradual improvement in the global economy, a drop in crude oil prices and implementation of comprehensive stimulus programs should contribute to output gains, barring any serious disruptions.
   
"There have been signs of improvements in the investment field and capital goods imports, and with consumption likely to pick up pace, predictions point to general economic improvements," the ministry said.
   
It said that while overall conditions look upbeat there are persistent global uncertainties that need to be checked. The ministry said more must be done to fuel domestic economic growth and streamline the economy as a whole to make it more efficient. (Yonhap)