S Korea's industrial output grows 6.4% in June
Post Date: 01 Aug 2011 Viewed: 483
South Korea's industrial output grew 6.4 percent in June from a year earlier due to strong demand for semiconductors and automobiles, a government report showed Friday.
Output in the mining, manufacturing and electricity & gas sector expanded 6.4 percent in June from a year ago, the Statistics Korea said in a statement. From a month earlier, industrial production advanced 0.7 percent last month.
The June reading was lower than a revised 8.1 percent growth in May, but it marked the 24th straight month of on-year expansion since July 2009.
The June growth came as robust demand for chips, parts and cars outweighed underperformance in non-metal products and audio, video & communications equipment, according to the statement.
Shipment in the mining firms and manufacturers rose 5.6 percent in June from the previous month, with inventory growing 9.9 percent on an on-year basis.
Local manufacturers operated at an average capacity of 82.5 percent in June, up 1.1 percentage point from a month earlier. The factory utilization rate stood at 83.1 percent a year ago.
The leading index of economic indicators, which gauges business activities eight to 15 months ahead, gained 0.4 percentage point in June from the previous month. The coincident index, measuring current economic conditions, also rose 0.3 point to 100.6 last month, according to the statement.