[속보] November consumption -0.9%, 2nd month decline… Industrial production and investment increase

On the 19th, a hypermarket in Nowon-gu, Seoul. News 1

November consumption continued to decline for two consecutive months. According to the’November Industrial Activity Trend’ released by the National Statistical Office on the 30th, retail sales, showing consumption trends last month, decreased 0.9% from the previous month. It is a decline for two consecutive months following October (-1.0%).

Non-durable goods such as food and beverages increased by 1.3%, but semi-durable goods such as clothing recorded -6.9%, and durable goods such as passenger cars also decreased overall, recording -0.4%.

Due to social distancing due to the novel coronavirus infection (Corona 19), outings have decreased, and winter clothing sales have decreased due to milder weather compared to the previous year.

All industrial production (excluding seasonal adjustments and agriculture, forestry and fishing) increased 0.7% from the previous month. The production of the mining industry increased by 0.3% compared to the previous month as semiconductors and electronic products increased by 7.2% and 7.4%.

Service industry production declined in accommodation and restaurants (-2.7%), but increased by 0.7% from the previous month as finance and insurance (4.6%) and transportation and warehouses (1.5%) increased. It has been increasing for three consecutive months.

Ahn Hyeong-jun, an economic trend statistics examiner at the Statistical Office, said, “There are effects such as refraining from going out and not selling clothes due to good weather, etc. on the decline in consumption. ·As the real estate side has increased, the overall increase has risen.”

Facility investment increased by 3.6%. Like industrial production, facility investment has also increased or decreased since August.

The cyclical fluctuation of the coincident index, indicating the future economy, rose 0.5 points from the previous month, and the cyclical fluctuation of the leading index, which predicts the future economy, rose 0.7 points.

This is the sixth month’s concomitant increase, the longest consecutive increase in 21 years and 3 months since the 12-month simultaneous increase from September 1998 to August 1999.

Deputy Officer Ahn said, “The social distancing in the metropolitan area has had an impact on the indicators as it rose to the 1.5th stage on the 19th and the 2nd stage on the 24th,” he said.

Reporter Jeong Hye-jeong [email protected]