S.Korea's industrial output rebounds in September

South Korea's industrial output logged the first rebound in three months as the services industry was boosted by the higher COVID-19 vaccination rate, statistical office data showed Friday.

The seasonally-adjusted production in all industries, which exclude the agriculture, forestry and fishery sector, gained 1.3 percent in September from a month earlier, according to Statistics Korea.

It was the turnaround from the falls of 0.7 percent in July and 0.2 percent in August each.

The continued COVID-19 resurgence weighed down on the manufacturing industry, but the higher vaccination rate propped up the services industry.

Output in the services industry advanced 1.3 percent in September on a monthly basis.

In the latest tally, the country's daily number of confirmed COVID-19 cases hovered above 1,000 for 115 days since July 7.

However, the full vaccination rate topped 70 percent of the population, a major precondition set by the government to ease antivirus measures.

Production in the eatery and lodging segment surged 10.9 percent in September from a month earlier, marking the fastest increase in seven months since February.

Output in the wholesale and retail sector expanded 0.7 percent, and the reading for the transport and warehousing sector gained 4.5 percent last month.

Production in the mining and manufacturing industry reduced 0.8 percent in September from a month ago, keeping a downward trend for the second consecutive month.

Output among manufacturers declined 0.9 percent last month.

Automotive production tumbled 9.8 percent on the back of the supply disruption of semiconductors used to make cars, and the production of electrical equipment retreated 5.2 percent.

The ratio of inventory to shipment stood at 113.2 percent in September, up 1.1 percentage points from the previous month.

Output in the public administration picked up 8.7 percent in September on a monthly basis, and production in the construction sector grew 3.5 percent.

The seasonally-adjusted retail sale, which reflects private consumption, rose 2.5 percent in September from a month earlier, marking the first turnaround in three months.

It was the fastest expansion in six months as outside activity recovered amid the higher vaccination rate.

The sale of non-durable goods, such as cosmetics, increased 3.8 percent last month, and the sale of semi-durables, including clothing, expanded 5.1 percent.

The durable goods sale fell 1.7 percent last month amid the disruption of automotive production.

The sale in discount outlets and grocery stores slumped 10.6 percent and 4.0 percent each, but those in department stores, duty-free shops and convenient stores went up 22.1 percent, 18.6 percent and 6.7 percent respectively.

Facility investment fell 1 percent in September from a month earlier, continuing to slide for two straight months.

The cyclical variation factor for leading economic indicators, which gauges outlook for the future economic situation, fell 0.3 points over the month to 102.1 in September.

The reading for coincident economic indicators, which measure the current economic conditions, was unchanged at 101.2 in September compared to the previous month.