0.9% reduction in consumption, 0.7% increase in production
In The News Reporter Jeon Geon-wookㅣNovember consumption declined for two consecutive months. On the other hand, production and investment turned to an increase.
According to the’November Industrial Activity Trend’ released by the National Statistical Office on the 30th, retail sales, showing consumption trends, decreased 0.9% from the previous year. Retail sales increased 3% and 1.7%, respectively, from August to September. After that, it turned to negative in October and continued to decline in November.
Non-durable goods such as food and beverages increased by 1.3%. However, sales of semi-durable goods such as clothing (-6.9%) and durable goods such as passenger cars (-0.4%) decreased side by side.
Last month, all industrial production (excluding seasonal adjustments and agriculture, forestry and fishing) increased 0.7% from the previous month. All industrial production recorded in August (-0.8%), September (+2.3%), and October (-0.1%), then turned to positive again this month.
Mining production, including manufacturing (0.3%), increased by 0.3%. This was due to an increase in automobiles (-8.8%), but electronics (7.4%) and semiconductors (7.2%).
Production in the service industry increased 0.7%, maintaining an increase for the third consecutive month. Due to the strengthening of social distancing, which began in November, sluggishness was observed in accommodation and restaurants (-2.7%), but finance and insurance (4.6%) increased.
Facility investment increased by 3.6% and turned to an increase in a month. Domestic machinery orders decreased by 2.1%, and the actual construction period actually constructed by construction companies increased by 2.1%.
The cyclical fluctuation of the coincidence index, which indicates the current economic condition, rose 0.5 points from the previous year. The cyclical fluctuation of the leading index, an indicator of the future economy, rose 0.7 points.