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S.Korea's industrial output jumps 16.7% last year: gov't report

01-31-2011 15:55 BJT

SEOUL, Jan. 31 (Xinhua) -- South Korea's industrial output jumped 16.7 percent in 2010 from a year earlier, a government report showed Monday.

The country's production in the mining and manufacturing industries grew 16.7 percent last year from a year earlier, when the output marked a 0.8 percent contraction due to the global financial crisis, the Statistics Korea said.

Output in the mining and manufacturing industries soared 9.8 percent in December from the same month a year earlier after rising a revised 10.7 percent in November. The output has grown since July 2009.

Production in December rose 2.8 percent from November, marking an increase for the second straight month.

Brisk output in December is attributable to outperformance in the semiconductor and machinery equipment industries, offsetting underperformance in the non-metal and transportation equipment sectors, the report said.

Production in the semiconductor and machinery equipment sectors expanded 19.6 percent and 20.3 percent on-year respectively, while output in the non-metal and transportation equipment retreated 3.8 percent and 2.9 percent respectively.

Local manufacturers operated at an average capacity of 81.8 percent last year, up 7.2 percentage points from the previous year. The average factory utilization rate stood at 82.5 percent in December, 1.6 percentage point higher than the previous month.

A leading index of economic indicators, which gauges business activity eight to 15 months ahead, increased 2.3 percent in December from a year earlier, down 0.2 percentage points from a 2. 5 percent gain in November. It marks the 12th straight month of decline.

Production in the service industry rose 1.3 percent in December from a month before and grew 2.1 percent from a year earlier respectively. For the entire year of 2010, the service sector output gained 3.7 percent from 2009.

Retail sales declined 1.0 percent last month from November, but sales of consumer goods increased from a year earlier due to brisk sales of durable goods such as computer, mobile devices and electronic appliances.

Facility investment in December rose 0.2 percent from a month before, while investment in factories contracted 1.2 percent last month from the same month a year earlier.

Construction orders plunged 20.8 percent last month from a year earlier due to decreasing orders in the private property market.

Editor:Du Xiaodan |Source: Xinhua

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