(LEAD) S. Korea's industrial output rebounds in June
(ATTN: ADDS details, remarks from 5th para)
SEJONG, July 31 (Yonhap) -- South Korea's industrial output rebounded in June, possibly indicating that the nation's economy hit bottom amid the coronavirus pandemic, data showed Friday.
The nation's overall industrial production gained 4.2 percent on-month in June, following a 1.2 percent on-month decline in May, according to data compiled by Statistics Korea.
Compared with a year earlier, overall industrial production also rose 0.7 percent in June.
Retail sales rose 2.4 percent from a month earlier as the nation eased strict social distancing rules, and facility investment gained 5.4 percent on-month.
Production in the mining, manufacturing, gas and electricity industries jumped 7.2 percent on month in June, marking the sharpest monthly growth since February 2009.
Sales of durable goods, such as cars, gained 4.1 percent, and those of nondurable ones, such as cosmetics, edged up 0.4 percent, the data showed.
Production of chips rose 3.3 percent on-month in June, and auto output soared 35.7 percent last month.
Vice Finance Minister Kim Yong-beom told reporters that the June data showed a "clear sign of recovery."
"The possibility of an economic rebound in the third quarter becomes clearer," Kim said.
The so-called cyclical component of the composite leading index, which predicts the turning point in business cycles, rose by 0.4 point on-month to 96.7, marking the first gain in five months.
South Korea entered a technical recession, with the economy contracting 3.3 percent, in the second quarter. In the first quarter, the economy shrank 1.3 percent on-quarter.
kdh@yna.co.kr
(END)
-
New Defense Minister Lee takes office, warns of 'stern' response to possible N.K. provocations
-
(LEAD) Yoon taps ex-deputy NSA for spy chief
-
Gov't to significantly increase international flights to meet travel demand
-
(2nd LD) BTS wins three Billboard Music Awards, marking 6th year to win an award
-
Psy returns to Billboard Hot 100 after 7 years with 'That That'
-
Full text of President Yoon's inaugural address
-
(2nd LD) Yoon offers to revive N.K. economy with 'audacious plan'
-
S. Korea to send condolence delegation to UAE over death of president
-
(News Focus) With Yoon, S. Korea, U.S. to strengthen alliance, deterrence against N. Korea: experts
-
(LEAD) Yoon to take oath of office as S. Korea's new president
-
S. Korean Navy SEAL-turned-YouTuber in Ukraine claims to be injured
-
(LEAD) Crypto investor probed for alleged trespassing at Terraform CEO's home
-
N. Korea asks China for help in fight against COVID-19: source
-
Crypto investor probed over allegedly visiting house of Terraform's CEO
-
(LEAD) N. K. leader issues special order on medicine supply against epidemic: state media