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S. Korea's Consumption Falls by Widest Margin in 5 Years, 7 Months

Written: 2016-10-31 11:08:37Updated: 2016-11-01 13:18:38

Anchor: South Korea's consumption fell by its widest margin in five years and seven months in September as the economy continued to languish. Industrial output also turned negative for the first time in five months as the bankruptcy of Hanjin Shipping hurt the logistics sector.
Our Kim In-kyung has more.
 
Report: South Korea's industrial output fell zero-point-eight percent on-month in September, dragged down by weak production in the service and construction sectors.
 
According to a report released by Statistics Korea on Monday, it marked the first decrease in five months and the widest fall since sliding one-point-four percent in January.
 
Industrial output grew in June, but remained static in July and August before declining in September. 
 
Retail sales, which indicate consumption trends, plummeted four-point-five percent on-month as sales of electronic goods, food and beverages and clothing slumped.
 
Hit by the recall and production halt of Samsung Electronics' Galaxy Note 7 smartphones, retail sales slipped by the widest margin since February 2011.
 
Construction output turned negative for the first time in five months, sliding four-point-seven percent.
 
Output dipped zero-point-six percent in the service sector, mainly as the bankruptcy of Hanjin Shipping reduced transportation sector output by three-point-one percent.
 
However, production in the mining and manufacturing industries rose zero-point-three percent on-month as walkouts at Hyundai Motor ended, resuming full-capacity operations at car assembly plants.
Kim In-kyung, KBS World Radio News. 

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