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InstaForex - Official partner of Dragon Racing

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2023.03.3023:40:00UTC+00South Korea Industrial Output Sinks 3.2% In February

Industrial production in South Korea was down a seasonally adjusted 3.2 percent on month in February, Statistics Korea said on Friday.

That missed expectations for a decline of 0.5 percent following the downwardly revised 2.4 percent increase in January (originally 2.9 percent).

On a yearly basis, industrial production sank 8.1 percent - exceeding expectations for a decline of 8.3 percent following the downwardly revised 13.0 percent drop in the previous month (originally -12.7 percent).

The bureau also said that retail sales jumped a seasonally adjusted 5.3 percent in February, beating forecasts for a gains of 3.5 percent after slipping 1.1 percent in January.

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