South Korea’s industrial production in August declined by 0.9pc from July and by 2.4pc as compared to the same month year prior, according to data released by Statistics Korea. South Korea’s manufacturing output in August fell by 1pc from July and 3.1pc from the same period year prior.
Mining, manufacturing, gas, and electricity industries output in August dropped by 0.7pc as compared to July. The country’s production capacity in August grew by 0.2pc from July and by 1.6pc from the same period year prior.
Retail sales in the country in August increased by 3pc from July and by 0.3pc as compared to the same month year prior. South Korean durable good sales fell 12.7pc in August, while auto output slipped 4.1pc as compared to July.
As per media reports, the overall industrial output decreased in August after growing by 4.1pc in June and by 0.1pc in July, respectively, due to the resurgence of COVID-19 cases in the Seoul metropolitan area.