SEOUL : South Korea's factory production and retail sales dropped in April, official data showed on Wednesday, indicating another tough quarter after the economy narrowly averted a recession in the first quarter.Factory production in April fell 1.2 per cent from March, on a seasonally adjusted basis, comi
SEOUL : South Korea's factory production and retail sales dropped in April, official data showed on Wednesday, indicating another tough quarter after the economy narrowly averted a recession in the first quarter.
In March, output rose by 5.3 per cent month-on-month, which was the fastest gain since June 2020, according to Statistics Korea. The all-industry output index, which includes the manufacturing as well as services sectors, fell 1.4 per cent in April over a month, marking the first monthly decline since November and the biggest drop in 14 months.
The finance ministry said data showed the economy went through a"moderate correction from the recovery in the first quarter".
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