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Consumption, Production, Investment All Retreat in July

Written: 2022-08-31 09:00:16Updated: 2022-08-31 09:55:25

Consumption, Production, Investment All Retreat in July

Photo : YONHAP News

Economic indicators on national output, consumption and investment all declined in July for the first time in three months.

Statistics Korea said on Wednesday that the retail sales index, a barometer of consumption, stood at 117-point-nine last month, down by zero-point-three percent from June.

It marks the first time that consumption fell for five straight months since compiling related statistics in 1995, with the index retreating by zero-point-one percent to one percent every month since March.

The Index of All Industry Production decreased by zero-point-one percent from June to 117-point-nine, after growing by zero-point-seven percent and zero-point-eight percent in the two previous months.

Facility investment also shrank by three-point-two percent from a month earlier, making July the first month to see the contraction of all three major indices of economic activity since April.

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