S. Korea's overall industrial output up in June, but uncertainties remain
Updated: 2021-07-30 13:58:39 KST
South Korea's overall industrial output in June went up one.six percent on-month thanks in part to a strong performance by the semiconductor industry.
The increase was the biggest seen in four months.
According to Statistics Korea on Friday production also increased in the manufacturing and service sectors.
Communications and broadcasting equipment sector fell almost nine percent.
However, production remained strong in the semiconductor and auto industries jumping eight.six and six.four percent, respectively.
Looking at the service sector, production in running water, sewage and waste edged down one.three percent.
But, this sector managed a positive figure in terms of production due to strengthening finance business.
And consumption rebounded, up one.four percent as people stocked up on new clothes for the hot summer months.
However, June's report pre-dates the impact of the fourth wave of the pandemic, so the outlook remains far from certain.
"We have plenty of experience dealing with COVID-19 so the negative impact won't be as pronounced. That's what we are expecting. That being said, uncertainty remains and we have to keep an eye on the situation."
Officials say they will monitor the economic situation as it unfolds to try and cushion the most detrimental impacts of the pandemic.
Jang Tae-hyun, Arirang News.