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South Korea's Leading Index Recovers In August: Conference Board

A leading indicator of the South Korean economy increased in August, after staying flat in July and recording a decline in June, data from a survey by the Conference Board showed Friday.

 

The leading economic index moved up 0.3 percent month-on-month to 119.8 in August, after staying unchanged in July. In June, index had decreased by 0.9 percent.

The leading index increased for the second time in the past six months, and August's pick up was driven mainly by positive contribution from the value of machinery orders, data showed.

Other components that contributed to the recovery were real exports FOB, stock prices and private construction orders.

The current conditions component of the survey, namely the coincident index, rose 0.5 percent sequentially to 117.9 in August, faster than the increases of 0.2 percent and 0.1 percent seen in July and June.

During the six months ended August, the leading index decreased by 0.2 percent, while the coincident index advanced 1.6 percent.

The weaknesses among the leading indicators have become less widespread in recent months, Conference Board said.

by RTT Staff Writer