S Korea's industrial output growth slows in April

14:37, May 31, 2011      

Email | Print | Subscribe | Comments | Forum 

South Korea's industrial output growth slowed in April due to sluggish production in chemicals, autos and audio & video equipment, a government report showed Tuesday.

Output in the mining, manufacturing and electricity & gas sectors expanded 6.9 percent in April from a year earlier owing to strong demand for semiconductors and components, Statistics Korea said in a monthly report.

It marked the 22nd straight month of on-year expansion since July 2009, but the growth has slowed since January last year when it peaked at a 36.9 percent year-on-year increase. The output growth posted 9.1 percent and 8.7 percent in February and March respectively.

From a month earlier, industrial output contracted 1.5 percent as underperformance in chemicals, autos and audio & video equipment outweighed solid demand for semiconductors and parts, according to the report.

Shipment in the mining firms and manufacturers rose 7.3 percent in April from a year earlier, but declined 1.7 percent from a month before. Inventory grew 8.9 percent year-on-year and 1.1 percent month-on-month each, the report showed.

Local manufacturers operated at an average capacity of 80.5 percent in April, down 2 percentage points from the previous month. The factory utilization rate stood at 81.7 percent a year ago.

The leading index of economic indicators, which gauges business activity eight to 15 months ahead, fell 0.3 percent from a month earlier. The coincident index, measuring current economic conditions, also decreased 0.2 percent last month, according to the report.

Production in the service industry grew 3.1 percent in April from the previous year due to upswings in financial, insurance, healthcare and social welfare sectors, the report said.

Retail sales posted a 5 percent on-year gain last month as brisk sales in durables and semi-durables outnumbered slowdown in non-durables such as car fuels. From a month earlier, retail sales contracted 1.1 percent last month.

Facility investment in April decreased 1.1 percent year-on-year and 5.7 percent month-on-month each due to declining investment in transportation equipment, the report said.

In April, the value of construction completed at constant prices fell 8.9 percent from a year earlier, with the value of construction orders received at current prices dropping 2.7 percent from the previous year.

Source: Xinhua
Wen Jiabao attends trilateral leaders' meeting of China,Japan and ROK
The Third China-U.S.Strategic and Economic Dialogue
  Weekly review  
May 27   Kim calls for close ties through generations
May 23   China intends to enhance friendship with Japan
May 23   Expert: Ecological problems not all due to Three Gorges Dam
May 24   Top military official's visit promotes China-US military ties
May 28   The week in pictures
May 25   'China fever' sweeps US tourism industry
May 26   US should not monopolize cyber affairs
May 26   Salty tide hits Shanghai as drought lingers
May 25   A new chapter for China-South Africa cooperation
May 27   Military trusted most of all Chinese institutions


  • Do you have anything to say?


Special Coverage
  • 3rd Anniversary Of Wenchuan Earthquake
  • Third China-U.S. Strategic and Economic Dialogue
Major headlines
Editor's Pick
  • 30,000 Turks protest against Israel on Gaza flotilla raid anniversary
  • Red tourism booms in late Chairman Mao's hometown
  • Childhood in West Bank's Bethlehem
  • Young Libyans in Benghazi inspired to fight, bear hope for future
  • Hats highlight Rio Fashion Week
  • Chinese, foreign geologists inspect Danxia landforms of Taining County
Hot Forum Dicussion