The nation witnessed an increase in industrial output, consumption and investment last year, posting a triple rise for the second consecutive year. 

Statistics Korea said on Tuesday that the index measuring the nation’s overall industrial production came to 116-point-four in 2022, up three-point-three percent from a year earlier. 

Retail sales, a key indicator of consumption levels, rose zero-point-two percent, and facility investment also increased three-point-three percent on-year in 2022.

For the month of December, however, industrial output declined one-point-six percent on-month, the largest on-month drop since April 2020 when it slipped one-point-eight percent.

Retail sales increased one-point-four percent on-month in December, while facility investment plunged seven-point-one percent. 

The composite coincident indicator, measuring the current phase of the business cycle, fell by zero-point-nine points on-month to 100-point-nine in December, the largest drop in 32 months after falling one-point-two points in April 2020.