In brief
In September, South Korea’s industrial output rose 3 percent, retail sales climbed 3.6 percent, and facility investment jumped 5.3 percent after a sharp decline in August. The rebound was driven by a semiconductor boom, the end of labor strikes at automakers, and new vehicle launches.
South Korea announced that in September industrial production, retail sales, and facility investment all rose for the first time in three months.
The seasonally adjusted index of industrial production, excluding agriculture and fisheries, grew 3.0 percent from a month earlier— the fastest monthly rise since March 2011 and the first in more than 15 years. This followed a 1.2‑percent contraction in August.
Officials attribute the turnaround to a surge in the semiconductor sector, the end of labor strikes at automakers, and the launch of new vehicle models.
The retail sales index, a key gauge of consumer spending, climbed 3.6 percent, the largest increase in nearly three years. Durable‑goods sales, including passenger cars, rose 4.4 percent while non‑durable goods such as food and beverages advanced 4.2 percent.
Facility investment also rebounded, expanding 5.3 percent in September after a 9.7‑percent plunge in August.
Source: Xinhua; data supplied by the Ministry of Data and Statistics.
