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S. Korea's Industrial Output, Investment Down in December

Written: 2019-01-31 09:10:32Updated: 2019-01-31 09:58:43

S. Korea's Industrial Output, Investment Down in December

Photo : YONHAP News

South Korea's industrial output decreased for the second consecutive month in December due to a contraction in the auto and semiconductor industries.

According to Statistics Korea on Thursday, the nation's industrial output fell point-six percent in December from a month earlier.

The output shrank one-point-four percent on-month last September and rebounded to a one-point-two percent increase the next month, but contracted for two straight months in November and December. 

Production in the mining, manufacturing, gas and electricity industries dropped one-point-four percent on-month in December.

Retail sales, an economic indicator of consumption levels, however, increased by point-eight percent on-month, posting growth for three straight months since October. 

Facility investment decreased by point-four percent on-month.

An economic indicator which reflects current economic conditions in the business cycle fell by point-two percentage points in December on-month, slipping for the ninth consecutive month.

An economic index that is used to predict short-term economic conditions in the business cycle also dropped by point-two percentage points, falling for the seventh straight month.

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