S.Korea's industrial production in March posts highest growth in 4 months
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E-mail Xinhua, April 28, 2017
South Korea's industrial production in March posted the fastest growth in four months, with the facility investment showing the highest expansion in almost three and a half years, a government report showed on Friday.
Output in all industries gained 1.2 percent in March from the previous month, marking the highest increase since November last year, according to Statistics Korea.
Production in the mining and manufacturing sectors grew 1 percent thanks to brisk output in cars and electronic parts.
Manufacturers logged an average capacity rate of 72.6 percent in March, up 1.6 percentage points from a month ago.
Facility investment jumped 12.9 percent last month, the highest increase in 41 months. It was attributable to brisk investment in semiconductor equipments, machinery and transport equipments.
Services industry's production rose 0.4 percent, but retail sales made little change compared with a month earlier.
Geopolitical risks and political uncertainty have weighed down on private consumption here along with massive household debts.
Household debts kept a record-breaking momentum amid higher borrowing costs, caused by interest rate hikes in the United States.
Political uncertainty eased as former President Park Geun-hye was impeached last month, and expectations were running high for the next government ahead of the presidential election on May 9.
However, geopolitical risks escalated on the Korean Peninsula, leading to slumping private consumption. Endit
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