Industrial output flat in July; retail sales down, facility investment up
Korea's industrial output remained flat in July from a month earlier, data showed Monday, with retail sales losing ground, while facility investment advanced. Industrial production remained unchanged in July from a month earlier, according to data from the Ministry of Data and Statistics. Output in the mining and manufacturing sector, a key pillar of the economy, edged up 0.2 percent on the back…
According to data released by the Ministry of Data and Statistics, Korea's industrial output remained flat in July compared to the previous month. Within the industrial sector, mining and manufacturing experienced a slight increase of 0.2 percent, primarily driven by the electronic component sector. However, the automobile industry saw a significant decline of 4.5 percent.
Retail sales, which serve as an indicator of private spending, declined by 2.4 percent in July, primarily due to a drop in durable goods such as cars. On a positive note, facility investment rose by 7.5 percent in July compared to the prior month.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
