2010.08.3102:59:00UTC+00S. Korea's Industrial Output, Business Sentiment Rises

South Korea's industrial production rose for the thirteenth consecutive month in July, official figures showed Tuesday.

Production in the mining and manufacturing sector increased 15.5% year-on-year following a revised 17.1% increase in June, the National Statistics Office said. On a monthly basis, output rose 1.1%.

The continuing strong growth in the industrial sector confirms that the South Korean economy is firm on the recovery track.

Also on Tuesday, survey results from the Bank of Korea showed that an index measuring manufacturers' sentiment for September rose to 104 from 102 in August. At the same time, a reading for non-manufacturers fell to 85 from 89. That was the lowest level since January.

South Korea's economy expanded 7.2% in the second quarter from a year earlier and grew 7.6% in the first half, according to the nation's central bank. It foresee 5.9% growth this year before cooling to 4.5% next year.

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