South Korea's industrial output bounced back in February
Seoul - QNA
South Korea's industrial output bounced back in February from the previous month on increased demand for automobiles and semiconductors, according to government data Tuesday, in a positive sign for the economy gripped by uncertainties at home and abroad.
According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries moved up 2.6 percent last month from a month earlier. Compared with a year earlier, however, the figure was down 4.7 percent.
The monthly gain is a rebound from the sharp 3.7 percent on-month drop reported for January, according to South Korea's (Yonhap) News Agency.
Production in the service sector also gained 1.6 percent from January and moved up 2.9 percent from a year earlier.
For all industries, output rose 2.5 percent from the previous month, the highest reading since March 2011, and gained 0.8 percent vis-a-vis a year earlier.
The statistical agency said a weak showing in January and a rise in demand for key goods caused output numbers to a rise in February from the month before.
The finance ministry said that the latest numbers showed that after a shaky start in January, industrial productivity was rising again.
It said that output for all industries stood at levels reached in December, with service sector productivity continuing to move up after numbers started improving in the third quarter of 2014.