Home   >   Business   >   Industrial output rebounds in April; retail sales fall for 2nd month

Industrial output rebounds in April; retail sales fall for 2nd month

May 31, 2024

South Korea’s industrial output rebounded in April following the sharpest fall in nearly four years, but retail sales and investment dropped for the second consecutive month, data showed Friday.

Industrial output rose 1.1 percent on-month in April, compared with a 2.1 percent fall a month earlier, according to the data compiled by Statistics Korea.

Compared with a year earlier, industrial output advanced 3.1 percent in April.

Retail sales, a gauge of private spending, however, shed 1.2 percent on-month due mainly to the falling sales of cars and other durable goods.

On an on-year basis, retail sales slid 2.6 percent.

Facility investment inched down 0.2 percent in April from the previous month, the second consecutive fall, while construction investment jumped 5 percent on-month, the data showed.

Customers shop at a major discount chain store in Seoul on May 26, 2024. (Yonhap)
Customers shop at a major discount chain store in Seoul on May 26, 2024. (Yonhap)