South Korean industrial output declined for the third consecutive month in July, mainly due to weak demand for semiconductors and automotive products.
South Korea's industrial output declined 0.4% in July, marking the third consecutive monthly decrease, with weak demand for semiconductors and automotive products impacting production. Despite the overall decline, industrial output increased 2.7% compared to the previous year. Mining, manufacturing, gas, and electricity industries saw a 3.6% decrease, while services industry output rose 0.7% and facility investment increased 10.1%. However, retail sales fell 1.9% due to decreased car, gasoline, and semidurable sales.
August 30, 2024
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