SEJONG– South Korean manufacturers’ domestic supply rose on-year for the seventh straight quarter in the July-September period on the back of eased social distancing measures, data showed Tuesday.
The manufacturing domestic supply index came to 110.9 in the third quarter, up 5.3 percent from the previous year, according to data from Statistics Korea.
The index measures both locally produced goods and imports, serving as a major indicator of domestic demand trends.
The supply of South Korean-made goods gained 2.1 percent on-year in the third quarter, marking the first on-year increase since the 6 percent growth tallied in the second quarter of 2021.
The supply of imported products advanced 13 percent on-year, taking up a record high of 32.2 percent of the third-quarter domestic supply.
“Starting the third quarter, the supply of locally made goods has increased as social distancing measures were fully lifted,” an official from the statistics agency said.
The index for consumer goods moved up 5 percent on-year in the July-September period, and the supply of capital goods added 2.6 percent. The supply of intermediate goods increased 6.3 percent on-year, the data added.
Source: Yonhap News Agency