SEOUL, Aug. 31 (Xinhua) -- South Korea's industrial output remained flat in July amid surging facility investment and sluggish private consumption, statistical ministry data showed Monday.
The seasonally-adjusted index of all industry production, which excludes the agriculture, livestock and fishery sectors, stood unchanged in July compared to the previous month, according to the Ministry of Data and Statistics.
After contracting for two consecutive months in April and May, industrial production rebounded 2.4 percent in June before stalling in July.
Production among manufacturers ticked up 0.2 percent month on month in July due to strong output of electronic components and primary metals that offset lower automotive production.
The average capacity utilization rate in the manufacturing industry added 0.2 percentage points to 74.9 percent in the cited month.
Output in the construction industry declined 1.1 percent, but production in the public administration sector jumped 10.4 percent.
Production in the services industry fell 1.3 percent in July from a month earlier, snapping a two-month growth streak amid prolonged high inflation and a severe summer heatwave.
The retail sales index, a key gauge of consumer spending, dwindled 2.4 percent in July, reversing an expansion of 2.7 percent in the previous month.
Durable goods sales dropped 7.7 percent on the back of lower demand for passenger cars, affected by the expiration of temporary consumption tax cuts.
Facility investment surged 7.5 percent, marking the second consecutive month of growth thanks to solid investment in transportation equipment and semiconductor manufacturing equipment.
Construction completion, which measures the actual value of construction work performed, retreated 1.1 percent in July on a monthly basis after rising 3.3 percent in May and 4.2 percent in June.
The cyclical variation factor for leading economic indicators, which gauges the outlook for future economic situations, rose 0.4 points to 104.2 in July compared to the previous month.
The reading for coincident economic indicators, which measures the current economic condition, went up 0.8 points to 101.2 last month. ■