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Industrial Output Rebounds in May, Retail Sales Suffer Biggest Drop in 10 Mths

Written: 2021-06-30 08:45:10Updated: 2021-06-30 10:31:07

Industrial Output Rebounds in May, Retail Sales Suffer Biggest Drop in 10 Mths

Photo : Getty Images Bank

South Korea's industrial output slightly increased in May from a month earlier, while consumption fell at the steepest pace in ten months.  

Statistics Korea said on Wednesday that the nation’s overall industrial production gained point-one percent in May from the previous month.  

The rebound comes after a one-point-two percent drop in April, which was the largest on-month decline since May last year. 

The rebound is mainly attributed to a sharp rise of eight-point-one percent in public administration in spite of overall drops in the output of the manufacturing, construction and service industries. 

However, retail sales, a key indicator of consumption levels, decreased one-point-eight percent in May from a month earlier, the largest drop since July of last year. 

Facility investment also fell three-point-five percent on-month in May.

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