SEOUL, June 29 (Xinhua) -- The industrial production in South Korea kept rising for two straight months thanks to robust export growth that offset lackluster consumption and investment, a government report showed Friday.
Production in all industries grew 0.3 percent in May from a month earlier, after expanding 1.5 percent in the previous month, according to Statistics Korea.
The all-industry production index stood at 107.5 in the month, hitting the highest since the relevant data began to be compiled in January 2000.
The brisk industrial activity was attributed to exports, which jumped 13.5 percent over the year to 50.98 billion U.S. dollars in May. It was the fifth biggest month export in the country's history.
Output in the mining and manufacturing industries gained 1.1 percent in the month due to growth in the auto and communications equipment.
Automobile production increased 5.5 percent on strong global demand for locally-made sport utility vehicle (SUV) and environmentally-friendly cars as well as relevant auto parts.
Output in the communications equipment sector surged 30.3 percent as the launch of new smartphones expanded demand for relevant equipment at home and abroad.
Manufacturers posted an average factory utilization rate of 73.9 percent in May, up 1.5 percentage points from the previous month. Inventory among manufacturers declined 0.8 percent.
Production in the services industry was down 0.1 percent on soft demand for the information and communications services that offset solid demand for healthcare and social welfare services.
Retail sales, which reflect private consumption, shrank 1.0 percent in May from a month ago, keeping a downward momentum for two months in a row.
Durable goods sales dipped 3.3 percent on falling demand for cars, made by local carmakers. Sales for non-durable goods such as food and beverage shed 1.4 percent on the falling number of tourists to South Korea.
Revenue by discount outlets, convenient stores and specialized retailers fell for the second consecutive month, with sales by supermarkets and general stores keeping a downward trend for three straight months.
Facility investment slumped 3.2 percent last month on weak activities in the semiconductor equipment and transport equipment sectors. Transport equipment investment tumbled 11 percent, pulling down the overall capital spending.
The facility investment index stood at 122.8 in May, the lowest in seven months. It kept sliding for three months in a row.
Construction completed dipped 2.2 percent, reflecting the slump in the real estate market. Housing market struggled with the government's measures to control speculative property investment and expectations for higher borrowing costs.
The cyclical factor of leading indicators, which herald future economic conditions, fell 0.1 point in May from a month earlier.