The industrial output index on a seasonally adjusted basis fell 2.0% in July from a month earlier, compared with a 1.5% fall in June and a 0.4% loss tipped in a Reuters survey.
It was the fastest monthly fall since February, according to Statistics Korea.
Production of electronic components, such as display panels, dropped the most, down 11.2%, followed by machineries and semiconductors, which fell 7.1% and 2.3%, respectively.
On an annual basis, output was 8.0% lower, also weaker than a 5.9% drop the previous month and economists’ forecast of 5.2%.
Retail sales plunged 3.2% over the month, after a gain of 0.9% the month earlier, marking the biggest drop since July 2020.
Facility investment also slumped 8.9% in July, much faster than the 1.1% fall in June. It was the fastest since March 2012.
Source: Economy - investing.com
