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Industrial Output Falls for Second Month in August

Written: 2022-09-30 08:58:49Updated: 2022-09-30 09:11:24

Industrial Output Falls for Second Month in August

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Industrial output decreased for a second month, but consumption and facility investment increased in August.

Statistics Korea said on Friday that the index of the nation’s overall industrial production came to 117-point-four in August, down zero-point-three percent from a month earlier.

After rising zero-point-seven in May and zero-point-eight percent in June, production declined for the next two months.

Retail sales, a key indicator of consumption levels, however, rose four-point-three percent in August, turning around from five straight months of decline, while facility investment also reversed to increase eight-point-eight percent on-month last month.

The composite coincident indicator measuring the current phase of the business cycle increased by zero-point-five point on-month to 102-point-three in August.

However, the composite leading indicator, which projects the future business cycle, dropped by zero-point-two point to 99-point-three.

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