Manufacturers’ Domestic Supply Extends Gains to Q7 in Q3

SEJONG, Nov. 08 (Yonhap) — Domestic supply from South Korean manufacturers rose year-on-year for the seventh consecutive quarter in the July-September period as social distancing measures were eased, it showed on Tuesday. Datas.

The manufacturing domestic supply index stood at 110.9 in the third quarter, up 5.3 percent from a year earlier, 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 products made in South Korea rose 2.1% year-on-year in the third quarter, marking the first year-on-year increase since the 6% growth recorded in the second quarter of 2021.

The supply of imported products increased by 13% year-on-year, reaching a record level of 32.2% of domestic supply in the third quarter.

“From the third quarter, the supply of locally made products increased as social distancing measures were completely lifted,” said an official from the statistics agency.

The consumer goods index rose 5% year-on-year in the July-September period, and the supply of capital goods rose 2.6%. The supply of intermediate goods rose 6.3% year-on-year, the data added.