NABO Economic Trends & Issues (No. 12)

  • 2011-11-17
  • 364
NABO Economic Trends & Issue (Issue No.12)

The mining and manufacturing production in September decreased by 0.1 percent compared to the previous month, indication a moderate slowdown in production growth. The mining and manufacturing production increased by 1.1 percent on a month-on-month basis, a slight improvement from the sluggishness of the previous month (−1.9 percent). The year-on-year production adjusted by the number of working days registered a 5.6 percent growth rate, a larger increment than the previous month (4.7 percent). By sector, production of machinery and equipment (−6.6 percent) and automobile (−1.7 percent) decreased, compared to the previous month, whereas that of semiconductor and parts (7.3 percent) increased significantly. The service industry production index decreased by 1.6 percent on a month-on-month basis, showing that the recent steady pace of growth has been weakened slightly. The year-on-year growth rate registered a steady 3.8 percent growth rate.

  The private consumption-related indicators in September decreased slightly due to durable goods. The growth rate of retail sales index recorded 2.8 percent down from the previous month (5.2 percent) while −3.2 percent on a month-on-month basis.

  The CPI inflation in October recorded a 3.9 percent growth rate, down from the previous month (4.3 percent), mainly attributable to a reduced increment in goods prices. The core inflation growth registered 3.7 percent, slightly down from the previous month (3.9 percent).

Won Dongah, Youn Jun-seung