April 24, 2024

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[THE INVESTOR] Korea’s industrial output declined in December from a month earlier on a slump in the automaking and machinery sectors, government data showed on Jan. 31.

Production in the mining, manufacturing, gas and electricity industries fell 0.2 percent on-month in December, following an adjusted 0.2 percent on-month rise in the previous month, according to the data by Statistics Korea.

From a year earlier, industrial output also sank 6 percent last month, following a 1.7 percent on-year decline in November.

Production in the service sector increased 0.2 percent on-month in December, with a 2.2 percent on-year gain.

Retail sales sank 4 percent on-month in December, turning around from a 5.7 percent on-month gain in the previous month, with a 2.2 percent on-year rise.

For all industries, production gained 0.2 percent on-month in December, following a 1.3 percent on-month rise in the previous month, with a 0.7 percent on-year fall, the data showed.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)