Korea's industrial output falls for 3rd month in November

SEOUL, 30th December, 2024 (WAM) -- The Republic of Korea's industrial output fell 0.4% in November from the previous month, marking a third straight month of decline, as automobile production slumped despite strong gains in the semiconductor sector, government data showed on Monday.

The drop was driven by a 5.4% monthly fall in automobile production, largely due to labour strikes, according to Statistics Korea data cited by Yonhap News Agency.

In contrast, the semiconductor sector posted a 3.9 percent on-month increase, fuelled by strong overseas demand.

In on-year terms, overall industrial output declined 0.3 percent in November.

Retail sales, a key indicator of private spending, grew 0.4 percent from the previous month, rebounding after two consecutive months of decline.