South Korea’s Factory Production Sees Largest Increase in Six Months for February, While Retail Sales Decline

by Pooja Chauhan · 28/03/2024

South Korea’s Factory Production Sees Largest Increase in Six Months for February, While Retail Sales Decline

BollywoodFever, March 28: In February, South Korea experienced its quickest factory output growth in six months, alongside a decline in retail sales, as revealed by official statistics on Friday.

The seasonally adjusted industrial output index increased by 3.1% for the month, recovering from a 1.5% decrease in January, per Statistics Korea’s data.

This growth exceeded the 0.5% rise forecasted by economists in a Reuters poll and marked the most rapid monthly increase since August. Conversely, retail sales saw a 3.1% decrease following a 1.0% increase in the prior month, representing the most significant drop since July.

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