South Korea's industrial output slipped at the steepest rate in more than two years in March due to a drop in production in the auto and machinery sectors. 

According to data by Statistics Korea on Monday, the country's industrial output decreased one-point-two percent in March from a month earlier, the largest drop in 26 months. 

Production in the mining, manufacturing, gas and electricity industries fell two-point-five percent on-month in March.  

The average factory operation rate decreased one-point-eight percentage points to 70-point-three percent, the lowest level since March 2009. 

Retail sales, an economic indicator for consumption, advanced two-point-seven percent on-month, posting growth for the third consecutive month.

Facility investment slipped seven-point-eight percent on-month, decreasing for the first time in five months.