South Korea’s industrial output and facility investment rose modestly in November, but consumption posted its sharpest decline in nearly two years.

According to the Ministry of Data and Statistics’ Monthly Industrial Statistics report released Tuesday, the nation’s industrial production index increased zero‑point‑nine percent in November from the previous month to 113‑point‑seven.

Manufacturing and mining output grew zero‑point‑six percent on‑month, supported by a seven‑and‑a‑half‑percent jump in semiconductor production.

Facility investment rose one‑point‑five percent, driven by higher spending on machinery.

However, retail sales, a key gauge of consumer demand, fell three‑point‑three percent from October, marking the steepest drop in 21 months since February last year.