SK industrial output shrinks in July following spurt in growth
AFPSEOUL -- South Korea's industrial production contracted slightly in July after a brief expansion the preceding month, on a decline in auto and machine equipment manufacturing, government data showed Friday.
August 31, 2013, 12:03 am TWN
Production in the mining, manufacturing, gas and electricity industries shrank a seasonally adjusted 0.1 percent in July from the previous month, following a revised 0.6 increase in June, according to Statistics Korea.
From a year earlier, July output was up 0.9 percent, compared with a revised 2.5-percent fall in June.
“Despite increases in semiconductors, parts and foodstuff, automobiles and machinery equipment saw their production decline, leading to a 0.2-percent output contraction in the overall manufacturing industry,” Statistics Korea said.
Growing signs of a slowdown in China — the export-reliant South's largest trading partner — has become a source of concern for Asia's fourth-largest economy.