June Industrial Production Posts Largest Gain in 6 Years With Triple Rise in Output, Consumption and Investment

▲ Containers are stacked at Pyeongtaek Port in Gyeonggi Province.

According to the June Industrial Activity Trends released by the National Data Agency today (the 31st), domestic production, consumption, and investment all increased last month.

This triple increase marks the first time in three months since March.

Driven by a rebound in semiconductor production after a single month of decline, overall industrial production recorded its largest increase in six years.

Consumption also grew in the upper 2 percent range, led by durable goods.

The total industrial production index for last month stood at 120.1, up 2.3 percent from the previous month.

After rising in February and March, total industrial production declined for two consecutive months in April and May before turning upward last month.

The growth rate in June was the largest since June 2020.

Mining and manufacturing production rose 6.4 percent from the previous month, showing the largest increase in six years.

Semiconductor production also grew 4.5 percent, turning upward after a sharp drop last May.

Production of automobiles and machinery equipment also increased.

The retail sales index, which measures consumption of goods, rose 2.7 percent from the previous month.

Sales surged in durable goods such as passenger cars, communication devices, and computers.

Services production, which indicates consumption of services, increased 0.7 percent.

Facilities investment grew 5.8 percent from the previous month.

Construction output, which reflects domestic construction completion records by builders, increased 4.1 percent from the previous month as gains in building construction outweighed declines in civil engineering projects.

The cyclical component of the coincident composite index, which reflects current economic conditions, rose 0.5 points from the previous month.

The cyclical component of the leading composite index, which forecasts future economic trends, rose 0.9 points.

(Photo: Yonhap News)

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