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.