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By Kang Yoon-seung
SEOUL, Sept. 30 (Yonhap) -- South Korea's industrial output lost ground in August from a month earlier, data showed Wednesday, with retail sales and facility investment also backtracking in a triple whammy for the first time since May.
Industrial production lost 1.3 percent from a month earlier in August, according to data from the Ministry of Data and Statistics.
Output in the mining and manufacturing sector, a key pillar of the economy, slipped 4.8 percent, due mainly to the automobile industry.
Machinery production rose 3.1 percent in August from a month earlier, while automobile production fell 24.8 percent due to reduced output of recreational vehicles.
It was the sharpest decline in automobile production since the 34.9 percent drop recorded in May 2020. The latest decline was apparently due to the summer vacation season and a strike.
Output in the rubber and plastic industry fell 11 percent due to reduced tire production, the report showed.
The service sector output, on the other hand, edged up 0.5 percent.
Output in the information and communication sector rose 4.7 percent, while output in the wholesale and retail sector fell 0.7 percent.
Retail sales, a gauge of private spending, moved down 1.8 percent over the period, led mostly by durable goods, including cars.
Sales of semidurable goods, such as clothes, rose 0.4 percent, while sales of durable goods, such as cars, fell 4.5 percent, the report showed. Sales of nondurable goods, including cosmetics, slipped 1.6 percent.
Facility investment plunged 9.5 percent from a month earlier in August, the latest findings showed.
Investment in transportation equipment fell 32.8 percent, offsetting a 1.6 percent increase in machinery investment, the latest findings showed.
Automobiles awaiting export are parked at a port in the southeastern industrial city of Ulsan, in this file photo taken May 12, 2026. (Yonhap)
colin@yna.co.kr
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