BUSINESS

Korea's industrial output falls 0.7% in Nov.

By Yonhap
  • Published : Dec 28, 2018 - 09:15
  • Updated : Dec 28, 2018 - 10:57

South Korea's industrial output fell 0.7 percent in November from a month earlier due in part to decreased exports of semiconductors and a decline in production in the service sector, government data showed Friday.

The data compiled by Statistics Korea showed production in the mining, manufacturing, gas and electricity industries dropping 1.7 percent on-month in November.

It said semiconductors output fell 5.2 percent in November from a month earlier as chip exports declined 18.9 percent during the same period.


(Yonhap)

"It's fair to say that semiconductors weighed on industrial output," said Eo Woon-sun, an official handling the issue at the statistics agency.

Semiconductors are one of the key exports of Asia's fourth-largest economy.

From a year earlier, industrial output moved up 0.2 percent.

Production in the service sector fell 0.2 percent on-month in November, with a 1 percent on-year rise.

Retail sales gained 0.5 percent in November from a month earlier, extending their gain to the second straight month. Retail sales rose 1 percent on-year in November.

Facility investment fell 5.1 percent in November from a month earlier due to a decline in imports of semiconductor manufacturing equipment and foreign cars. (Yonhap)



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