South Korea’s industrial production, private consumption and facility investment fell in February on the effect of the COVID-19 outbreak, statistical office data showed Tuesday.
The seasonally adjusted production in all industries, which exclude the agriculture, forestry and fishery sector, dived 3.5 percent in February from a month earlier, according to Statistics Korea. It was the biggest fall in nine years since February 2011.
Output in the mining and manufacturing industry declined 3.8 percent, marking the fastest reduction in December 2008 when the global financial crisis roiled the economy.
Production in the services sector contracted 3.5 percent last month, posting the biggest monthly slide since relevant data began to be compiled in 2000.
Retail sale, which reflects consumer spending, tumbled 6.0 percent in February from a month earlier, the fastest fall since February 2011.
Facility investment shrank 4.8 percent in the month, and completed construction reduced 3.4 percent.
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