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S. Korea's industrial output falls 1.1 pct in April

SEOUL
2021-05-31 11:52

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SEOUL, May 31 (Xinhua) -- South Korea's industrial output fell 1.1 percent in April from the previous month, marking the fastest decline in 11 months, statistical office data showed Monday.

The seasonally-adjusted production in all industries, which exclude the agriculture, forestry and fishery industry, fell 1.1 percent in April from a month earlier, according to Statistics Korea.

It was the highest reduction in 11 months since May last year. The industrial output advanced 2.0 percent in February and 0.9 percent in March respectively.

Output in the mining and manufacturing industry contracted 1.6 percent in April on a monthly basis. Production in the manufacturing sector diminished 1.7 percent last month.

It was mainly attributed to the high base effect. The production index for the chip-making sector hit a record high in March, leading to a 10.9 percent drop in production among chipmakers in April.

Production in the services industry gained 0.4 percent in April from a month earlier, after expanding 1.1 percent in February and 1.3 percent in March each.

Retail sale, which reflects private consumption, picked up 2.3 percent in April on a monthly basis, after growing 2.3 percent in the previous month.

Facility investment climbed 3.5 percent, but completed construction shrank 0.8 percent last month.
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