South Korea Industrial Output Slumps 2.0% In July
(RTTNews) - Industrial production in South Korea was down a seasonally adjusted 2.0 percent on month in July, Statistics Korea said on Thursday.
That missed forecasts for a decline of 0.4 percent following the downwardly revised 1.5 percent drop in June (originally -1.0 percent).
On a yearly basis, industrial production tumbled 8.0 percent - again shy of expectations for a drop of 5.2 percent following the downwardly revised 5.9 percent contraction in the previous month (originally -5.6 percent).
The bureau also said that retail sales sank 3.2 percent on month as passenger cars, food and beverages, and clothing all declined.
That also missed forecasts for a flat reading following the downwardly revised 0.9 percent increase in June (originally 1.0 percent).
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