The nation experienced a decrease in industrial output, consumption and investment in May, marking the first triple decline in ten months since last July. 

Statistics Korea reported on Friday that the index of the nation’s overall industrial production dropped zero-point-seven percent from the previous month to 113-point-one in May, following a one-point-two percent rise in April. 

Production in the mining and manufacturing industries declined by one-point-two percent in May, while chip production climbed one-point-eight percent on-month, posting the first rise in three months.

Output in the service industry decreased by zero-point-five percent.

Retail sales, a key indicator of consumption levels, dropped zero-point-two percent on-month in May, while facility investment slipped four-point-one percent from the previous month.

The composite coincident indicator, which measures the current phase of the business cycle, dropped by zero-point-six point on-month to 98-point-eight in May, posting the largest fall in 48 months since May 2020.

The composite leading indicator, which projects the future business cycle, also dropped by zero-point-one points from the previous month to 100-point-five.