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S. Korea's industrial output soared 2.3% m/m in September, facility investment up 7.4% Updated: 2020-10-30 10:02:37 KST


The latest economic indicators suggest South Korea is close to re-entering a recovery phase from the pandemic-induced slump.
The country's overall industrial output, consumption and investment all edged up for the first time in three months,due in part to improved exports.
Statistics Korea said on Friday that the country's overall industrial output was up 2.3 percent in September from the previous month.
Manufacturing production jumped almost 6 percent mainly driven by automobiles, electronic parts and semiconductors.
The bumper figure for industrial output can be attributed to improvements in exports,which saw an on-year increase of 7.7 percent.
Semiconductors, general machinery and automobiles were the major exports.
Retail sales, which show the consumption trend, saw a 1.7 percent increase, mostly on food and clothing.
Facility investment also edged up 7.4 percent, posting the biggest increase in six months.
An increase of 34 percent in transport equipment largely contributed to the positive figure.
After the release of the figures, Finance minister Hong Nam-ki said the "triple improvement" of production, consumption and investment means the South Korean economy can expect a bright forecast for the fourth quarter.
Kim Sung-min, Arirang News.
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