S Korea’s industrial production up, retail sales down in Nov

According to Statistics Korea, South Korea’s industrial production rose by 1.6% on the month in November following a decrease of 0.4% in October and beat the estimates which called for an increase of 1%. This was also the biggest increase since January 2013. On a yearly basis, the country’s industrial production also increased further by 4.6% in November after an increase of 2% in October.

The rise in industrial production was attributed to the increase in manufacturing. In November, South Korea’s manufacturing output climbed by 3.4% on a monthly and by 5% on a yearly basis.

Meanwhile, the data showed that the country’s retail sales declined by 0.2% month-on-month after posting an increase of 5.5% in October. However, retail sales were up further by 3.2% year-on-year after a 2.5% increase in October.