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Economic Indicators

S.Korea’s April factory output shrinks most in 2 years, service output expands

05/31/2022

Less than a minute

2022.05.31 02:35

S.Korea's April factory output shrinks most in 2 years, service output expands
FILE PHOTO: Workers walk past a construction site in Seoul, South Korea, October 2, 2018. REUTERS/Kim Hong-Ji

SEOUL (Reuters) – South Korea’s April factory output shrank by the most in nearly two years, though the service sector held firm, government data showed on Tuesday.

Industrial production in April decreased by a seasonally-adjusted 3.3% from a month earlier, shrinking for the first time in seven months and marking the biggest decline since May 2020.

Meanwhile, service sector output rose 1.4%, extending gains to a second straight month.

Source

05/31/2022

Less than a minute