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S. Korea’s Industrial Production Falls 2.8 pct On-year in April

Written: 2016-05-31 10:30:52Updated: 2016-05-31 10:59:25

S. Korea’s Industrial Production Falls 2.8 pct On-year in April

South Korea’s gross industrial production has fallen for the second consecutive in April.

According to a report unveiled on Tuesday by the Statistics Korea, South Korea’s industrial production for April fell by zero-point-eight percent from March.
 
Decreased production in the mineral engineering sector due to falling exports, the decreasing number of construction projects and consumption of retail goods appear to be the key causes.
 
South Korea’s monthly change rates in industrial production was negative one-point-four percent in January but jumped to zero-point-seven percent in February and March.
 
Production in the service sector rose marginally but struggling production in mineral engineering, consumer retail goods and construction appear to have affected the fall in industrial production. 

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