April 26, 2024

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[THE INVESTOR] Korea’s industrial output plunged 4.3 percent in March on-year, government data showed on April 30.

From a month earlier it fell 2.5 percent. Production in the mining, manufacturing, gas and electricity industries fell 2.5 percent on-month in March, following an adjusted 0.8 percent on-month gain in the previous month, according to the data by Statistics Korea.

Production in the service sector gained 0.4 percent in March from a month earlier, with a 2.3 percent on-year gain.

Retail sales advanced 2.7 percent on-month, compared with a 0.8-percent on-month gain in February. They also rose 7 percent on-year.

Facility investment sank 7.8 percent on-month in the month, falling 0.2 percent on-year.

For all industries, production sank 1.2 percent on-month, the steepest fall in two years, following a 0.2 percent on-month fall in the previous month, and a 1 percent on-year drop, the data showed.

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