Home Business April production declined 1.1% due to a sharp decline in semiconductors Improve consumer sentiment

April production declined 1.1% due to a sharp decline in semiconductors Improve consumer sentiment

by news dir
On the morning of the morning of the 31st, the Economic Trend Statistics Reviewer at the Statistical Office, Eoun-seon, announces the industrial activity trends for April 2021 at the Government Complex Sejong. Last month, all-industrial production fell 1.1% from the previous month, the largest decline in 11 months, while the retail sales index recorded the highest level since the statistics were prepared (January 1995) due to economic recovery. Photo = Newsis

[Monday Newspaper = Reporter Ki-yul Kim]Due to the decrease in semiconductor production, production in all industries fell the most in 11 months last month. However, production and consumption in the service industry recorded a record high, and consumption sentiment was generally improved.

According to the’Industrial Activity Trends for April 2021′ released by the National Statistical Office on the 31st, the total industrial production index last month was 111.4 (2015 = 100), down 1.1% from the previous month.

The production index for all industries increased 2.0% and 0.9% in February and March, respectively, and then declined again in April. The decline was the largest since May last year (-1.5%).

The decline in mining and industrial production (-1.6%) had a big impact. Mechanical equipment increased by 5.3%, but rubber, plastics and semiconductors decreased by 4.0% and 10.9%, respectively. The decline in semiconductors reached the highest level in one year since April last year (-14.7%).

“In the case of semiconductors, the trend of economic trends continued due to the expansion of the non-face-to-face economy after the Corona 19 incident,” said the National Statistical Office’s Economic Trend Statistics Officer. “It was a base effect,” he explained.

Production in the service industry increased 0.4%, recording an increase in the third consecutive month. Accommodations and restaurants (3.1%), wholesale and retail (0.8%) increased, while transportation and warehouses (-2.2%) decreased.

Consumption (retail sales) increased by 2.3% from the previous month, increasing for two consecutive months. The retail sales index was 120.5 (seasonally adjusted), the highest since the statistics were prepared. Non-durable goods such as cosmetics (2.4%), semi-durable goods such as clothing (4.3%), and durable goods such as communication devices (0.7%) all increased.

“Consumption sentiment is improving as the number of corona 19 vaccinations increases. It is not at the level to mention the underlying effect,” said Eh. “Because there are some conditions to support consumer sentiment through various consumption support measures of the government, (consumption) continues. It seems to be increasing,” he said.

Facility investment increased by 3.5%. Construction completion decreased by 0.8%.

The cyclical fluctuation of the coincident index, indicating the current economic situation, was 101.3, 1.1 points from the previous month, and the cyclical fluctuation of the leading index, which predicts the future, rose 0.4 points to 103.6.

The Ministry of Strategy and Finance said, “The production of the mining industry has been temporarily adjusted, but most indicators are surpassing the pre-crisis level (January 2020), and the recovery is continuing.” There is uncertainty, such as continued, but we will do our best to strengthen the flow of economic recovery by revitalizing exports and domestic demand, and to manage internal and external risks.”

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