Sept. industrial output falls 0.4% on service sector

By Yonhap

Published : Oct. 31, 2019 - 09:19

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South Korea's industrial output fell in September from a month earlier due mainly to declines in the services sector, government data showed Thursday.

The country's overall industrial production saw a 0.4 percent on-month decline last month after posting on-year gains in the previous two months, Statistics Korea said in a statement.

Production in the mining, manufacturing, gas and electricity industries climbed 2 percent in September from a month ago, while output in the services industry declined 1.2 percent, it said.

"The decline in the services sector is attributable to decreased purchases in the wholesale, retail and finance sectors," an official at Statistics Korea said.

(Yonhap)

Retail sales fell 2.2 percent in September from a month earlier as consumers purchased foods, non-durable goods and clothes in August ahead of the Chuseok holiday, the Korean autumn harvest celebration, which fell in the second week of September, the statement said.

Facility investment rose 2.9 percent during the period as companies increased spending on industrial machines, it said.

Year-on-year, industrial output rose 0.5 percent, helped by increased output in the mining and service industries, it said.

Output in the mining, manufacturing, gas and electricity industries rose 0.4 percent last month from September 2018, and production in the services industry increased 1 percent during the same period, the statement said. (Yonhap)

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Sept. industrial output falls 0.4% on service sector

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