SEOUL (XINHUA) – South Korea’s industrial output fell for the third straight month in July due to lower production in semiconductors and automobiles in addition to the real estate market slump, statistical office data showed yesterday.
The seasonally-adjusted production index in all industries, which exclude the agriculture, livestock and fishery sector, declined 0.4 per cent in July from a month earlier after sliding 0.8 per cent in May and 0.1 per cent in June, according to Statistics Korea.
Production among manufacturers dropped 3.8 per cent in July on a monthly basis after growing 0.7 per cent in June.
Semiconductor output retreated 8.0 per cent, with those for cars and electronic products plunging in double digits.
The ratio of inventory to shipment in the manufacturing industry gained 9.7 percentage points from a month earlier to 114.6 per cent in July.
Manufacturers recorded an average capacity ratio of 71.4 per cent in July, down 2.4 percentage points compared to the prior month. Production in the construction industry reduced 1.7 per cent in July from a month earlier, keeping a downward trend for the third consecutive month amid the lingering worry about the property market slowdown.
Output in the public administration sector advanced 6.0 per cent last month, rebounding from a slide of 5.0 per cent in the previous month. Output in the service industry climbed 0.7 per cent in July after rising 0.3 per cent in June.
