Corporate production activity is weak.
Last month's industrial production index, released by the Ministry of Economy, Trade and Industry, was 95.2 with 2015 set at 100, down 0.1% from the previous month.
This is the third consecutive month that the index has declined, and the underlying assessment of production activity has been revised downward from "Production is picking up moderately, but some weaknesses can be seen" to "Production is weak."
Regarding the reasons for the decline in the index, the Ministry of Economy, Trade and Industry said that demand for business machinery such as conveyors and transport cranes, as well as semiconductor manufacturing equipment, decreased against the backdrop of interest rate hikes by central banks in Europe and the United States and the spread of the new coronavirus in China. , it is analyzed that it is due to a drop in production.
Regarding the future outlook, the Ministry of Economy, Trade and Industry said, ``There is a possibility that production will continue to decline due to growing concerns about economic recession in Europe, the United States and China. .