The country’s industrial output declined for the second consecutive month in May amid sluggish consumption and investment. 

According to Statistics Korea on Monday, the index for the nation’s overall industrial production came to 112-point-five in May, down one-point-one percent from a month earlier. 

It marks the largest drop since January, when the figure slipped one-point-six percent. 

Retail sales, a key indicator of consumption levels, were flat in May, while facility investment fell four-point-seven percent, continuing a downward trend for the third month in a row. 

The composite coincident indicator, which measures the current phase of the business cycle, saw a zero-point-four point fall in May from a month earlier.

The composite leading indicator, which projects the outlook for the business cycle, posted a zero-point-one point fall on-month.