South Korea Industrial Output Jumps 5.3% On Year In March

(RTTNews) - Industrial production in South Korea was up 5.3 percent on year in March, Statistics Korea said on Wednesday - beating forecasts for a gain of 3.3 percent following the 7.1 percent jump in February.

On a seasonally adjusted monthly basis, industrial production rose 2.9 percent - again exceeding expectations for an increase of 0.2 percent after adding 1.4 percent in the previous month.

Production of all industries decreased in the service industry (-0.3 percent) but increased in the mining industry (2.9 percent).

Retail sales fell 0.3 percent on month due to a decrease in sales of communication equipment, computers, and passenger cars. That follows the 1.5 percent increase in February.

Facility investment dropped 0.9 percent on month due to a decrease in investment in machinery. Construction equipment sank 2.7 percent on month due to a decrease in construction performance in civil engineering and construction.