Domestic production, consumption and investment last month all grew from June, the first time in five months for all three indicators to see a simultaneous rise.
A Statistics Korea report on July industrial activity released on Aug. 29 said industrial output overall rose 0.3% last month, its second consecutive month of increase, thanks to growth in the service industry (0.2%) and mining and manufacturing (0.3%).
The retail sales index, a gauge of goods consumption, went up 2.5% for its largest hike in 29 months since 6.1% in February 2023. Sales rose in all categories like durable goods including telecom devices and computers (5.4%), non-durable items such as food and beverages (1.1%), and semi-durable goods including clothing (2.7%).
Facility investment also rose 7.9% led by transportation equipment (18.1%) and machinery (3.7%).
By Yoo Yeon Gyeong, dusrud21@korea.kr
Source: Korea.net
