South Korea’s industrial output edged down 1.9 percent in February from a month earlier due in part to decreased production of cars and the service sector, government data showed Friday.
The figure was the biggest decline since March 2013, when industrial output fell 2.1 percent.
The data compiled by Statistics Korea showed the output of cars went down 3.2 percent in February from a month earlier, while production in the service sector declined 1.1 percent on-month.
Retail sales fell 0.5 percent in February from a month earlier due to decreased sales of food and beverages, as well as passenger cars. Retail sales declined 2 percent on-year last month.
Facility investment fell 10.4 percent last month from January — the biggest decline in 63 months — due to decreased investment in machinery and transport equipment.
From a year earlier, industrial output fell 1.4 percent.
Kim Bo-kyoung, director of Statistics Korea’s short-term industry statistics division, said the high base effect in January is partly to blame for the decline in industrial output, retail sales and facility investment. (Yonhap)