SEOUL (Reuters) – South Korea’s factory production shrank for a second month in August, missing expectations, while retail sales jumped, government data showed on Friday.
The country’s industrial output fell src.8% on a seasonally-adjusted monthly basis, by a faster pace than src.3% in July and 0.5% tipped in a Reuters poll.
It rose src.0% compared with the same month a year earlier, also missing a src.3% rise seen in the survey and marking the slowest pace since September 202src.
Output for the services sector rose src.5% on month, while retail sales jumped 4.3%, marking the fastest gain since May 2020.
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