South Korea's industrial output, consumption and investment all rose in June — the first "triple increase" in three months since March.

The all-industry production index (seasonally adjusted, excluding agriculture, forestry and fisheries) came in at 120.1 (base year 2020=100) in June, up 2.3 percent from the previous month, according to data the Ministry of Statistics released Friday.

Containers are stacked at Sinseondae Pier in Busan Port. [Yonhap]
Containers are stacked at Sinseondae Pier in Busan Port. [Yonhap]

All-industry production had fallen for two consecutive months — down 0.5 percent in April and 0.4 percent in May — before turning positive in June.

Mining and manufacturing output rose 6.4 percent, driven by a 15.4 percent gain in automobile production and a 4.5 percent gain in semiconductors. Electronic components, however, fell 10.4 percent.

Domestic demand indicators also improved. Service sector output rose 0.7 percent from the previous month, led by finance and insurance and by transportation and warehousing. The retail sales index, which tracks product consumption, climbed 2.7 percent on stronger sales of passenger cars and communications devices and computers.

Facility investment rose 5.8 percent from the previous month as spending on machinery and transport equipment expanded.

Construction work completed (in constant prices), which reflects domestic construction activity by builders, increased 4.1 percent from the previous month. New construction orders, however, fell 28.1 percent from a year earlier, weighed down by a decline in orders for factory and warehouse construction.

The cyclical variation index of the coincident composite index, which reflects current economic conditions, rose 0.5 point from the previous month. The cyclical variation index of the leading composite index, which signals the future direction of the economy, gained 0.9 point.


y2k@heraldcorp.com