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Korea's industrial output rises 1% in January

SEJONG -- Korea's industrial output increased in January from a month earlier on a rise in production in the automaking and chipmaking sectors, government data showed Friday.

Production in the mining, manufacturing, gas and electricity industries rose 1 percent on-month in January, following an adjusted 0.5 percent on-month decline in the previous month, according to the data by Statistics Korea.

From a year earlier, industrial output also spiked 4.6 percent in January, following a 4.6 percent on-year decline in December.

(Yonhap)
(Yonhap)

Production in the service sector increased 0.8 percent on-month in January, with a 3.6 percent on-year gain.

Retail sales advanced 1.7 percent on-month in January, turning around from a 2.6 percent on-month decline in the previous month, with a 1.4 percent on-year rise.

Facility investment jumped 6.2 percent on-month in January, soaring 22.5 percent on-year as well.

For all industries, production gained 1.2 percent on-month in January, following a 0.5 percent on-month dip in the previous month, with a 4.5 percent on-year gain, the data showed.

The statistics office said an upturn in car production and the chipmaking sector contributed to the rise in the January figures.

Production of vehicles surged 12.1 percent in January from a month earlier, and the machinery sector saw its output rise 4.1 percent. Output in the chipmaking sector gained 5.7 percent.

Its average factory operation rate gained 0.2 percentage point to 70.4 percent in January.(Yonhap)

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