[Courtesy of Statistics Korea]
South Korea's economy was still in gloomy colors in April as its industrial output dropped for two months in a row due to a slump mainly in the production of cars and electronics parts seen as key industries which have propped up exports.
Data from Statistics Korea, released on Tuesday, showed the country's industrial output fell 2.8 percent on-year in April. It also posted a 1.3 percent drop from a month ago. Production in all industries fell 0.8 percent on-month.
Industrial output rose 2.2 on-year in February but fell 0.6 percent in March amid sluggish exports, the engine of growth, which have decreased for 16 straight months. Consumption in April dropped 0.5 percent from March.
In April, output in semiconductors rose 15.1 percent from a year earlier, and oil refinery posted a 9.1 percent increase. However, car production dropped 8.7 percent, and electronics parts fell 12.7 percent.
Aju News Park Sae-jin = swatchsjp@ajunews.com
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Park Sae-jin
swatchsjp@ajunews.com
