South Korea April industrial output falls again, worse than expected
[SEOUL] South Korea's industrial output fell in April for a second straight month in sequential terms and by more than expected, data showed on Tuesday, raising concerns over the strength in the sector.
Industrial output slipped by a seasonally adjusted 1.3 per cent in April, following a revised 1.3 per cent fall in March, Statistics Korea showed. The revised March reading was slightly improved from a provisional 2.2 per cent decline.
The median forecast in a Reuters survey was for April industrial output to have edged down 0.2 per cent in monthly terms.
On an annual basis, industrial output dropped 2.8 per cent after a revised 0.6 per cent decline in March, compared with a median one per cent fall tipped in the Reuters survey. The revision was better than the 1.5 per cent fall released earlier.
The statistics agency data also showed that service-sector output rose by a seasonally adjusted 0.5 per cent in April on a monthly basis after a revised 0.5 per cent rise in March.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month