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October Sees Drop in Industrial Output, Consumption, Investment

Written: 2024-11-29 09:46:15Updated: 2024-11-29 14:42:22

October Sees Drop in Industrial Output, Consumption, Investment

Photo : YONHAP News

The nation’s industrial output, consumption and investment all fell in October, marking the first time since May that all three figures have declined. 

Statistics Korea reported on Friday that the index for the nation’s overall industrial production dropped zero-point-three percent from the previous month to 113 in October, falling for the second consecutive month.
 
Production in the mining and manufacturing industries remained flat in October, with a six-point-three percent fall in automobile production offset by an eight-point-four percent increase in chip production. 

Output in the service industry rose by zero-point-three percent.

Retail sales, a key indicator of consumption levels, decreased zero-point-four percent on-month in October, while facility investment slipped five-point-eight percent from the previous month.

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