SEOUL : South Korea's factory production and retail sales dropped in April, official data showed on Wednesday, indicating another tough quarter ahead after the economy narrowly averted a recession in the first quarter.The country's factory output in April fell 1.2 per cent from March, on a seasonally adju
SEOUL : South Korea's factory production and retail sales dropped in April, official data showed on Wednesday, indicating another tough quarter ahead after the economy narrowly averted a recession in the first quarter.
In March, output rose by 5.3 per cent from February, 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.
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