South Korea's Economic Indicators Show Positive Momentum

February marked a significant turnaround for South Korea's economy, with production, consumption, and investment all witnessing growth. This 'triple plus' rebound comes after a decline in January, attributed partly to the early Lunar New Year holiday.

The all-industry production index rose to 111.7, a 0.6% increase from the previous month, signaling a recovery, albeit modest, from January's downturn. Manufacturing output led the charge with a 0.8% rise, while the service sector saw a 0.5% increase. The construction industry, after a prolonged slump, rebounded with a 1.5% growth.

Consumption and Investment on the Rise

Retail sales surged by 1.5% to 102.9, the highest in 11 months, driven by a 13.3% jump in durable goods sales. Meanwhile, facility investment skyrocketed by 18.7%, fueled by significant increases in machinery and transportation equipment investments.

This economic uplift is further supported by slight improvements in the cyclical component of the coincident composite index and the leading composite index, both up by 0.1 points.