Semiconductor Production Skyrockets 42.4% Year-On-Year: Statistics Korea

Summary

  • A significant rise of 42.4% in semiconductor production has been witnessed year-over-year, improving the factory output of the country according to the Statistics Korea report.
  • In contrast, the output of machines and other electrical components has slumped 13.8% and 9.9% respectively.
  • The index also noticed a growth of 3.3% from the previous month, surpassing the forecasted 1.0% increase.

Semiconductor Manufacture Skyrocketed Boosting Factory Production

As per a latest report from Statistics Korea, the manufacturing of semiconductors has experienced a staggering jump of 42.4% from the previous year. This hike has greatly supported the nation’s industrial production.

Downfall in Machine and Electrical Component Output

Despite the surge in semiconductor manufacturing, there is a significant degradation noticed in the manufacture of machines and other electric components. A respective slump of 13.8% and 9.9% has been seen in the production of these components.

Month-On-Month Improvement in Index

In continuation to the above, the index has also gained a considerable hike of 3.3% as compared to the previous month, which beat the anticipated increase of 1.0% in the survey.

Potential Impact on Financial Trading

In context to forex or trading, the upswing in semiconductor manufacturing and the decline in machinery and electrical components could shape investment strategies, potentially affecting relevant asset markets.

PIP Penguin
Logo