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Korea's industrial output falls 0.3 pct in March amid virus pandemic

All News 08:00 April 29, 2020

SEJONG, April 29 (Yonhap) -- South Korea's overall industrial output fell 0.3 percent in March from a month earlier, data showed Wednesday, as the coronavirus pandemic hit exports and private consumption.

The data compiled by Statistics Korea, however, showed production in the mining, manufacturing, gas and electricity industries rose 4.6 percent from a month earlier.

From a year earlier, overall industrial output also gained 0.6 percent.

The output in the service sector declined 4.4 percent on-month.

In February, the nation's overall industrial output contracted 3.5 percent on-month, marking the sharpest decline since February 2011.

The economy, Asia's fourth largest, shrank 1.4 percent on-quarter in the first quarter of this year, the sharpest quarterly contraction since the last three months of 2008.

Exports sank 27 percent on-year in the first 20 days of April to $21.7 billion.

Korea's industrial output falls 0.3 pct in March amid virus pandemic - 1

kdh@yna.co.kr
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