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Data on industrial output for November is out... and it shows output has risen slightly
compared to the same period last year.
However, things were not looking so good for the country's business sentiment.
Kim Ji-yeon tells us more.
Industrial output across all sectors in South Korea edged up zero-point-two-percent in November
compared to the same month last year.
Statistics Korea says the on-year increase is mainly due to an improvement in the services
sector... which ticked up one percent last month.
The agency also cited output in the mining and manufacturing sectors,... which edged
up by a mere zero-point-one-percent on-year in November.
However, facility investment plunged by the fastest pace in five years... dipping ten
percent compared to the same period last year.
This is mainly due to a drop in semiconductor shipments which decreased by more than 16-percent
on-month.
Retail sales increased by one-percent on-year, with cosmetics, entertainment and home appliances
sales seeing the biggest gains.
But the prospects for industries ahead of the New Year look grim.
Data released by the Bank of Korea shows the business sentiment index for December has
fallen to its lowest level in more than two years.
The index dropped two points from the previous month to 72.
A reading below 100 means there are more pessimists than optimists on the local economy.
A central bank official cited a sharp drop in sentiment among businesses in the chemical
sector as the reason for the fall.
Chemical businesses said demand for their goods had slowed amid the China-U.S. trade
war.
The prolonged slump in the construction and auto sectors also drove down sentiment in
the metal industries.
Kim Ji-yeon, Arirang News.
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