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S. Korea's industrial output falls 1.9 pct in Jan. on weak exports

All News 08:06 March 02, 2016

SEJONG, March 2 (Yonhap) -- South Korea's industrial output fell for three months in a row in January due to a slump in the electronics and automaking sectors amid faltering outbound shipments, a government report showed Wednesday.

Production in the mining, manufacturing, gas and electricity industries dropped 1.9 percent last month from a year earlier, contracting for the third consecutive month, according to the report by Statistics Korea. Compared with a month earlier, industrial output also retreated 1.8 percent.

Production in the service sector expanded 3 percent from a year earlier. But it backtracked 0.9 percent from December, the report showed.

For all industries, output moved up 1.8 percent from the same month in 2015, but fell 1.2 percent from a month earlier.

Asia's fourth-largest economy posted an 18.8 percent on-year drop in its outbound shipments in January amid waning global demand and low oil prices.


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