Financial News: South Korea Industrial Production Slips 2.1% In March

South Korea Industrial Production Slips 2.1% In March

04/29/2024 - 19:34:00 (RTTNews)

(RTTNews) - Industrial production in South Korea was down a seasonally adjusted 2.1 percent on month in March, Statistics Korea said on Tuesday - following the 3.1 percent increase in February.

The mining industry (-3.2 percent) and the services industry (-0.8 percent) saw the largest declines, along with decreases in wholesale and retail, lodging and restaurants. Retail sales increased by 1.6 percent due to higher sales in food and beverages and passenger cars.

Investment facility investment fell 6.6 percent due to a decrease in investment in machinery and transportation equipment, while construction equipment sank 8.7 percent due to a decrease in construction and civil engineering work.

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