South Korea Industrial Production Slumps In April
RTTNews 2023-05-30 23:44:24 • 1 min
Industrial production in South Korea was down a seasonally adjusted 1.2 percent on month in April, Statistics Korea said on Wednesday.
That missed expectations for a decline of 0.9 percent following the upwardly revised 5.3 percent increase in March (originally 5.1 percent).
On a yearly basis, industrial production sank 8.9 percent, again missing forecasts for a fall of 7.3 percent after dropping 7.6 percent in the previous month.
The bureau also said that retail sales in South Korea were down 2.3 percent on month versus expectations for a gain of 0.8 percent following the downwardly revised 0.1 percent increase a month earlier (originally 0.4 percent).
