In November, when corona spreads again, consumption declines… Increase in production and investment (total)

Accompanying·Leading Index Increased in 6 months, the longest period since the IMF

“In December, the impact of re-proliferation will be greater… face-to-face service uncertainty increases”

(Sejong = Yonhap News) Reporter Chae Yeon Lee Bo-bae and Kwak Min-seo = consumption in November, when the new coronavirus infection (Corona 19) re-proliferated, declined for two consecutive months.

Industrial production and investment, which crossed monthly increases and decreases since August, increased last month due to the rebound in exports centered on semiconductors.

◇ 0.7% of industrial production… Semiconductor 7.2%↑·Finance·Insurance 4.6%↑

According to the’November Industrial Activity Trend’ released by the National Statistical Office on the 30th, last month, all industrial production (excluding seasonal adjustments and agriculture, forestry and fishing) increased 0.7% from the previous month.

However, industrial production continues to increase and decrease every month in August (-0.8%), September (2.3%), October (-0.1%), and November (0.7%).

Mining production, including manufacturing (0.3%), increased by 0.3%. Mining industry production turned from decline in October (-1.1%) to increase.

Semiconductor production, which was sluggish in October (-9.5%), increased 7.2% as the base effect was reflected. Electronic components also increased by 7.4%.

On the other hand, automobiles decreased by 8.8% due to the spread of Corona 19 abroad. Chemical products (-8.4%) and medical precision optics (-5.5%) also decreased.

The production of the service industry increased 0.7% for the third consecutive month.

Finance and insurance (4.6%) and real estate (3.3%) led to an increase in service industry production due to rising stock prices and real estate prices.

However, due to the continued reinforcement of the social distancing stage from November, it was sluggish mainly in accommodation and restaurants (-2.7%), health and social welfare (-0.8%) and wholesale and retail (-0.3%).

It is analyzed that the increase in industrial production had a large impact on exports. Exports in November increased by 4.0% compared to the same period last year, driven by an increase in semiconductors (16.4%), displays (21.4%), and wireless communication devices (20.2%).

◇ Consumption decreased by 0.9% and decreased for two consecutive months

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%).

Sales of semi-durable goods such as clothing (-6.9%) and durable goods such as passenger cars (-0.4%) decreased significantly.

Statistical Office Economic Trend Statistical Reviewer Ahn Hyeong-joon said, “Not only was the effect of the re-proliferation of Corona 19, but also refrained from going out and winter clothes were not sold because of the good weather.

Facility investment increased by 3.6% as investments continued mainly in semiconductors and manufacturing equipment. Like industrial production, facility investment has also increased or decreased since August.

The actual construction period that construction companies actually constructed increased by 2.1%.

◇ Companion index and leading index rise together for the 6th month

The cyclical fluctuation of the coincident index indicating the current economy rose 0.5 points from the previous month. The cyclical fluctuation of the leading index, an index predicting the future economy, also rose 0.7 points from the previous month.

The two indices’ joint rise is the sixth month, the longest consecutive rise in 21 years and three months after the 12-month simultaneous increase from September 1998 to August 1999.

Deputy Officer Ahn said, “The social distancing in the metropolitan area increased to 1.5 steps on the 19th and 2nd steps on the 24th of last month, affecting the indicators.” Situation” he said.

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2020/12/30 08:33 sent