South Korea's industrial output inched up last month, but consumption and investment decreased.

According to Statistics Korea on Monday, the nation's overall industrial production edged up point-one percent on-month in July. 

Production in the mining and manufacturing industries gained one-point-six percent from a month earlier, while service sector output rose point-three percent on-month. 

Retail sales, a key indicator of consumption levels, plunged six percent from a month earlier, the largest drop since February. Facility investment also slipped two-point-two percent on-month in July. 

A Statistics Korea official said that consumption declined in July after people spent most of their coronavirus emergency handouts in May and June. 

Meanwhile, the coincident index, a metric that reflects current economic conditions in the business cycle, rose point-two points on-month.

The leading composite index, which forecasts future economic performance in business cycles, also gained point-four points.