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Korea's industrial output, consumption, investment all fall in October

Published: 30 Nov. 2023, 09:46

KIM JU-YEON
[email protected]

Industrial output fell in October on a marked decline in the production of the semiconductor sector. Pictured is a semiconductor displayed at the SEDEX semiconductor convention held in October. [NEWS1]

The three measures indicating the state of domestic industrial activity, output, consumption and investment, all fell in October, data showed on Tuesday.

Industrial production dropped 1.6 percent on-month in October following two months of gains, according to Statistics Korea.

October's decline came as the production of the semiconductor sector logged an 11.4 percent on-month fall.

Retail sales, a gauge of private spending, fell 0.8 percent on-month on weak demand for food and other non-durable goods.

Facility investment also slid 3.3 percent, compared with the 8.7 percent rise a month earlier, according to the data.

It is the first time in three months that all three measures showed declines. Compared with a year earlier, industrial output rose 1 percent last month.

BY KIM JU-YEON, YONHAP [[email protected]]