Industrial output down in May due to sluggish manufacturing

Korea's industrial output fell in May from a month earlier due mainly to the sluggish performance of the manufacturing sector, data showed Tuesday, while retail sales rebounded slightly over the period.

Industrial production fell 0.3 percent last month from April, according to data from the Ministry of Data and Statistics.

Output in the mining and manufacturing sector, a key pillar of the economy, fell 3 percent due to a decline in the production of chips and pharmaceutical products, while that of the automobile sector increased.

Retail sales, a gauge of private spending, rose 0.1 percent over the period, led by automobile fuel and cosmetics.

Facility investment decreased 0.1 percent in May from a month earlier due to the weak performance of the machinery industry, the data showed.

Yonhap