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Korea’s industrial output remains sluggish in August

Sept. 28, 2012 - 19:55 By Korea Herald
South Korea’s industrial output inched up in August from a year earlier, but its growth pace remained subdued apparently affected by sluggish demand amid concerns over the eurozone debt crisis and global slowdowns, a government report showed Friday.

According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries grew 0.3 percent last month from a year earlier. It gained a revised 0.2 percent on-year in July.

The output, however, shrank 0.7 percent last month compared with a month earlier, the third consecutive on-month contraction.

The country’s service sector production increased 0.6 percent on-year in August, but it also declined 0.3 percent compared with the previous month, the report showed.

(Yonhap News)