▲ Import and export freight is piled high at the Sinseondae Pier of Busan Port on the 1st.
Domestic production, consumption, and investment all increased in September.
This triple increase marks the first time in three months since June.
Industrial production posted its largest growth in 15 years and 6 months.
According to the September Industrial Activity Trends released by the Korea National Statistical Office today (the 30th), the total industrial production index (seasonally adjusted, 2020=100) stood at 122.7 last month, up 3.0 percent from the previous month.
Last month's growth rate is the highest since March 2011 (3.4 percent).
The growth rate of all-industry production shrank to 2.6 percent in June and 0.1 percent in July, before pulling back to -1.2 percent in August, but it quickly rebounded.
Mining and manufacturing production increased by 9.0 percent.
Growth was steep in sectors such as semiconductors (19.2 percent) and automobiles (39.9 percent).
Semiconductor production reached its highest level since February of this year (28.2 percent).
In the case of automobiles, which saw a noticeable decline in August, the increase was driven by a surge in factory operation rates as strikes ended and the summer vacation period concluded.
The retail sales index, which indicates goods consumption, rose by 3.6 percent.
Retail sales recorded their largest growth in 3 years and 7 months since February 2023 (5.1 percent).
Sales increased across durable goods such as passenger cars (4.4 percent), non-durable goods such as food and beverages (4.2 percent), and semi-durable goods such as clothing (0.6 percent).
Service sector production, which reflects service consumption, increased by 0.5 percent.
Facility investment rose by 5.3 percent.
The growth was led by machinery such as electrical equipment and devices (4.7 percent) and transportation equipment such as other transport equipment (7.4 percent).
The cyclical component of the coincident composite index, which shows the current economic situation, rose by 0.5 points from the previous month.
The cyclical component of the leading composite index, which forecasts future economic trends, fell by 0.1 points.
(Photo: Yonhap News)
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