Seoul, November 30 (QNA) – South Korea’s industrial output fell by the most in 30 months in October, with retail sales also losing ground amid the prolonged economic uncertainties.
Industrial production declined 1.5 percent on-month in October, following a 0.4 percent on-month decrease the previous month, according to the data showed Wednesday from Statistics Korea.
It marked the largest drop since the 1.8 percent decrease tallied in April 2020 in the wake of the COVID-19 pandemic, and the data showed that the output also fell for the fourth consecutive month, compared from a year earlier, the output advanced 2.8 percent.
Output in the mining, manufacturing, gas and electricity industries fell 3.5 percent on-month in October, due mainly to a decline in production in the automobile and machine sectors.
The service output also went down 0.8 percent on-month in October, the sharpest drop since the 1 percent decrease posted in December 2020. (QNA)
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