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South Korea Industrial Output Sinks 2.9% In May
(RTTNews) - Industrial production in South Korea was down a seasonally adjusted 2.9 percent on month in May, Statistics Korea said on Monday.
That was well shy of expectations for a decline of 0.1 percent on month following the upwardly revised 0.6 percent contraction in April (originally -0.9 percent).
On a yearly basis, industrial production rose 0.2 percent - again missing forecasts for a gain of 2.6 percent following the upwardly revised 5.1 percent jump in the previous month (originally 4.9 percent).
Retail sales were flat on month, beating forecasts for a decline of 0.1 percent following the 0.9 percent drop a month earlier.
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