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Industrial Output Posts Biggest Drop in 18 Months

Written: 2021-11-30 08:43:56Updated: 2021-11-30 11:07:49

Industrial Output Posts Biggest Drop in 18 Months

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Industrial output fell by nearly two percent in October from a month ago to post the largest drop in 18 months. 

Statistics Korea said on Tuesday that the index of the nation’s overall industrial production came to 110-point-eight in October, down one-point-nine percent from the previous month.

It marks the largest drop since April of last year, when it slipped two percent. 

Output in manufacturing industries decreased three-point-one percent, extending the losing streak to four months. Service sector output also dropped point-three percent on-month. 

Retail sales, a key indicator of consumption levels, however, rose point-two percent on-month in October.

Facility investment dropped five-point-four percent on-month last month.

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