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Industrial Output & Consumption Fall, Investment Rises in April

Written: 2023-05-31 09:22:06Updated: 2023-05-31 10:56:01

Industrial Output & Consumption Fall, Investment Rises in April

Photo : YONHAP News

Industrial output and consumption decreased in April, while investment slightly increased.

Statistics Korea said on Wednesday that the index of the nation’s overall industrial production came to 109-point-eight in April, down one-point-four percent from a month earlier to mark the largest fall in 14 months since February of last year, when it decreased one-point-five percent.

The decline is mainly attributed to a one-point-two-percent drop in production in the manufacturing industry, while output in the service industry also dropped zero-point-three percent in April.

Retail sales, a key indicator of consumption levels, also slipped two-point-three percent on-month in April, the largest fall since November.

Facility investment, however, increased zero-point-nine percent on-month.

The composite coincident indicator measuring the current phase of the business cycle increased by zero-point-two points on-month to 99-point-nine in April.

However, the composite leading indicator, which projects the future business cycle, dropped by zero-point-one point to 98.

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