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Financial News: South Korea Industrial Output Rises 0.8% In January

South Korea Industrial Output Rises 0.8% In January

03/03/2024 - 18:18:00 (RTTNews)

(RTTNews) - Industrial production in South Korea was up a seasonally adjusted 0.8 percent on month in January, Statistics Korea said on Monday.

That was shy of expectations for a gain of 1.0 percent but was up from 0.6 percent in December.

Total industrial production decreased in the mining industry, but increased production in the construction industry and services.

On a yearly basis, industrial output jumped 12.9 percent - exceeding expectations for 9.3 percent and up from 6.2 percent in the previous month.

The bureau also said that the value of retail sales rose 0.8 percent on month - up from 0.6 percent in December due to higher sales of communication equipment, computers, and cosmetics.

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