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S. Korea's Industrial Output Posts First Drop in 8 Months in January

Write: 2021-03-02 08:35:29Update: 2021-03-02 09:48:41

S. Korea's Industrial Output Posts First Drop in 8 Months in January

Photo : Getty Images Bank

South Korea's industrial output declined for the first time in eight months in January.

According to Statistics Korea on Tuesday, the nation's overall industrial production decreased point-six percent in January from the previous month. 

It marked the first on-month decline since May 2020, when industrial production fell one-point-five percent.

Production in the mining, manufacturing, gas and electricity industries dropped one-point-six percent, while the output in the service industry fell point-two percent. 

Retail sales, a key indicator of consumption levels, jumped one-point-six percent in January, the largest on-month gain since August 2020.

Facility investment also increased six-point-two percent on-month.

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