South Korea’s industrial production, consumer spending and facility investment all saw their first rise in three months in September, according to data from the Ministry of Data and Statistics released Friday, as reported by Xinhua.
Industrial output, calculated excluding agriculture, livestock and fishery, advanced 3.0% in September from the prior month – the fastest monthly gain in more than 15 years, since March 2011 – after contracting 1.2% in August. The rebound was credited to a surge in the semiconductor sector, the lifting of labor strikes at major automakers and the positive impact of new vehicle launches.
Retail sales rose 3.6% in September, the largest increase in a little over three years. Durable‑goods sales, including passenger cars, accelerated 4.4% while non‑durable goods, such as food and beverages, rose 4.2%.
Facility investment also rebounded, expanding 5.3% from the previous month after a 9.7% drop in August, according to the same ministry data. Xinhua notes that this surge follows a sharp decline, indicating a recovery in construction and equipment spending.
Combined, the triple rise signals early signs of economic momentum in South Korea, though officials will continue to monitor the broader inflation and global demand landscape as the country looks to sustain its rebound.
