SEOUL (Reuters) -South Korea’s factory output missed market expectations in July and fell by the most in five months, official data showed on Thursday, while retail sales and facility investment also plunged.
The industrial output index on a seasonally adjusted basis fell 2.0% in July from a month earlier, compared with a 1.5% fall in June and a 0.4% loss tipped in a Reuters survey.
It was the fastest monthly fall since February, according to Statistics Korea.
Production of electronic components, such as display panels, dropped the most, down 11.2%, followed by machineries and semiconductors, which fell 7.1% and 2.3%, respectively.
On an annual basis, output was 8.0% lower, also weaker than a 5.9% drop the previous month and economists’ forecast of 5.2%.
Retail sales plunged 3.2% over the month, after a gain of 0.9% the month earlier, marking the biggest drop since July 2020.
Facility investment also slumped 8.9% in July, much faster than the 1.1% fall in June. It was the fastest since March 2012.
(Reporting by Jihoon LeeEditing by Tom Hogue and Sam Holmes)
