South Korean Industrial Production Falls In May

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.

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