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Industrial Output Falls for Second Month in June

Written: 2024-07-31 09:24:05Updated: 2024-07-31 15:35:14

Industrial Output Falls for Second Month in June

Photo : YONHAP News

South Korea's industrial output decreased for two straight months, while consumption and investment rebounded in June.

According to data from Statistics Korea on Wednesday, the industrial production index dropped one-tenth of a percent from a month earlier to 113-point-one in June.

The index dropped for the second straight month in June after rising one-point-four percent in April, as production in the construction sector and public administration fell despite a rise in output in the mining and manufacturing and service fields.

For the April-June period, industrial output decreased zero-point-three percent from the previous three months for the first quarterly drop in six quarters. 

Retail sales, a key indicator of consumption levels, increased one percent in April from the previous month, the first rise in three months, spurred by demand for automobiles. 

Facility investments also rebounded to increase four-point-three percent month-on-month in June.

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