South Korea’s industrial production declined at a softer pace in May, data from Statistics Korea said on Wednesday.
Industrial production fell a seasonally adjusted 0.7 percent month-on-month in May, following a 1.6 percent decline in April. Economists had expected a 0.8 percent fall.
Manufacturing output decreased 1.0 percent monthly in May, following a 1.6 percent fall in the previous month.
On a yearly basis, industrial production grew 15.6 percent in May, following a 12.6 percent rise in the preceding month.
Separate data from the statistical office showed that the retail sales increased 3.1 percent on year in May and declined 1.8 percent from a month ago.