Financial News: South Korea Industrial Output Sinks 0.4% In July

South Korea Industrial Output Sinks 0.4% In July

08/29/2024 - 19:11:00 (RTTNews)

(RTTNews) - Industrial production in South Korea was down a seasonally adjusted 0.4 percent on month in July, Statistics Korea said on Friday - in line with expectations following the 0.5 percent increase in June.

The decline was due to a 3.6 percent decrease in production in the mining industry, which was offset slightly by a 0.7 percent increase in production in the services.

Retail sales fell 1.9 percent on month due to lower sales of vehicle fuel and passenger cars; that follows the 1.0 percent gain in the previous month.

Facility investment increased by 10.1 percent on month due to increased investment in transportation equipment, while construction equipment decreased by 1.7 percent due to a decrease in construction performance in civil engineering.

The cyclical change of the Leading Composite Index fell 0.6 points on month and the cyclical change of the Leading Composite Index remained flat.

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