Production of Cars Drives Increase in South Korea Industrial Output

Fabricated metals products increased 6.9% in November

After contracting for three straight months, South Korea's industrial output rose in November from a month earlier thanks to brisk production of cars, semiconductors and parts, figures showed on Dec. 30.

Statistics Korea said that production in mining and manufacturing rose 1.4% from October and increased 10.4% year-on-year.

The figure had contracted on a monthly basis from August till October, when the number fell 4.2% from September, the sharpest drop in 22 months.

On an annual basis, production has been rising since July 2009.

Output of computer chips and related parts rose 1.3% and fabricated metals products increased 6.9% month-on-month, Statistics Korea said.

However the leading economic composite index, a gauge of economic performance eight to 15 months ahead, dipped 0.8 percentage points from a month earlier, marking its 11th straight month of contraction. The drop reflects lower figures for construction and machinery orders received.

Copyright Agence France-Presse, 2010

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