Industrial output and consumption increased in March, but investment saw a decline.

Statistics Korea said on Friday that the index of the nation’s overall industrial production came to 111-point-six in the third month of the year, up one-point-six percent from a month earlier. It marks the largest growth since March of last year, when it increased one-point-nine percent.

Production in the manufacturing industry increased five-point-seven percent from a month earlier, leading the growth in overall industrial production, while output in the service industry also rose zero-point-two percent in March.

Retail sales, a key indicator of consumption levels, also gained zero-point-four percent on-month in March, rising for the second consecutive month.

Facility investment, however, dropped two-point-two percent on-month.

The composite coincident indicator measuring the current phase of the business cycle increased by zero-point-six points on-month to 99-point-nine in March.

However, the composite leading indicator, which projects the future business cycle, dropped by zero-point-three points to 98-point-two.