大发彩神大发快三了S. Korea's production, consumption fall in June on worry about Japan's export curbs
SEOUL, July 31 (Xinhua) -- South Korea's industrial production and private consumption fell last month amid growing worry about Japan's export curbs, a government report showed Wednesday.
The seasonally-adjusted production in all industries, excluding the agricultural, forestry and fishery sectors, declined 0.7 percent in June from a month ago, after sliding 0.3 percent in the prior month, according to Statistics Korea.
Retail sales, which reflect private consumption, retreated 1.6 percent in June from a month earlier, turning downward after growing 0.9 percent in May.
The reductions came amid rising concern about Japan's export restriction against South Korea. Japan slapped export control early this month over three materials exported to South Korea that are used to produce memory chips and display panels.
Japan allegedly planned to announce the removal later this week of South Korea from its whitelist of the preferential procedures for export, a move estimated to have a negative effect on as many as 1,000 items or so in trade between the two countries.
South Korea's export, which accounts for about half of the economy, slipped for the seventh straight month through June.
The country's real gross domestic product (GDP), adjusted for inflation, rebounded 1.1 percent in the second quarter from three months earlier, after contracting 0.4 percent in the previous quarter.
The rebound was mainly attributed to the increased fiscal spending to bolster infrastructure development in non-metropolitan areas.
The Bank of Korea (BOK) cut its benchmark interest rate by 25 basis points earlier this month to 1.50 percent, citing concern about the trade row with Japan.
The central bank also slashed this year's growth forecast by 0.3 percentage points to 2.2 percent.
Production in the mining and manufacturing industries grew 0.2 percent in June from a month earlier on recovery in semiconductors and display panels that offset a decline in export production.
Output among manufacturers rose 0.2 percent on the rebound in electronic parts, including chips.
Shipment in the manufacturing sector expanded 1.4 percent in the month, but inventory among manufacturers fell 0.9 percent.
Manufacturers posted an average capacity ratio of 71.9 percent in June, unchanged from the previous month.
Production in the services industry dipped 1 percent in June from a year ago.
Facility investment rebounded 0.4 percent last month, after contracting 7.1 percent in the previous month. From a year earlier, the capital spending tumbled 9.3 percent.
Completed construction shrank 0.4 percent in June from a month ago.
The cyclical factor for leading indicators, which measure outlook for future economic conditions, shed 0.2 points in June from a month earlier, and the figure for coincident indicators fell 0.1 point last month.
During the April-June quarter, the industrial production gained 0.5 percent from the previous three-month period.
Retail sales grew 1 percent and facility investment advanced 1.1 percent on the second quarter from threes months earlier.