![[종합] January industrial production decreased by 0.6%… Downhill in 8 months](http://img.newspim.com/news/2021/03/02/2103020808393720.jpg "[종합] January industrial production decreased by 0.6%… Downhill in 8 months")
1.6% in retail sales and 6.2% in facility investment
6.0% reduction in construction period… Architecture and Civil Engineering ↓
[세종=뉴스핌] Reporter Choi On-jung = In January, industrial production declined 0.6% from the previous month, turning it into a decline in eight months. This is due to the decline in production in the mining, service and construction industries. Retail sales increased from the previous month as sales of home appliances and clothing increased.
According to the’January 2021 Industrial Activity Trend’ released by the National Statistical Office on the 2nd, all industrial production in January decreased by 0.6% from the previous month. Production increased for seven consecutive months from June (3.9%) to 12 (0.4%) last year, and then turned to a decline in eight months.
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| January industrial activity trend [자료=통계청] 2021.03.02 [email protected] |
Mining and industrial production declined 1.6% from the previous month. Automobiles (12.8%) increased, but electronic parts (-9.4%) and other transportation equipment (-12.4%) decreased. As for electronic parts, production of LCD-related items such as LCD for TV and LCD for IT decreased, and for other transportation equipment, production of ship and aircraft related items such as container ships and aircraft parts decreased.
Manufacturing inventory fell 0.8% MoM. The average utilization rate of the manufacturing industry was 73.2%, down 1.1 percentage points (p) from the previous month. The manufacturing industry’s average utilization rate increased for five consecutive months from June (+5.4%p) to October (+0.1%p) last year, and then decreased in November (-0.2%p). After that, it increased again (+0.9%p) in December, but decreased again in January.
Service industry production declined 0.2% from the previous month. Finance and insurance (1.3%) increased, but arts, sports and leisure (-15.4%) and wholesale and retail (-0.8%) decreased. In particular, production of sports services, amusement parks, and other entertainment-related service industries declined due to business restrictions due to the novel coronavirus infection (Corona 19).
Retail sales, showing domestic consumption, increased 1.6% from the previous month, and increased for the second month following last December (0.1%). Non-durable goods such as pharmaceuticals (-0.1%) decreased, but sales of durable goods such as home appliances (4.8%) and semi-durable goods such as clothing (1.0%) increased. The National Statistical Office explained that the demand for home appliances continued as indoor life increased due to the prolonged Corona 19.
Facility investment increased 6.2% from the previous month. Investment in transportation equipment such as automobiles (-8.4%) decreased, but investment in machinery such as special industrial machinery (11.2%) increased significantly, mainly in semiconductors. Construction startability decreased by 6.0% compared to the previous month, as both construction (-5.4%) and civil engineering (-7.8%) construction performance decreased.
The cyclical fluctuation of the coincident index, indicating the current economic conditions, fell 0.2p MoM to 99.5p. The cyclical fluctuation of the leading index, which predicts the future economy, rose 0.3p to 102.7p.