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S. Korea's industrial output weakens to 22-month low

Xinhua, March 2, 2015 Adjust font size:

Industrial output in South Korea weakened to the lowest in 22 months in January due to a fall in auto and machinery production, a government report showed Monday.

Production in all industries, including manufacturing, services, construction and public administration, declined 1.7 percent from a month earlier, according to Statistics Korea.

It was the lowest monthly growth since March 2013 when the industrial output reduced 1.8 percent. The industrial activity fluctuated between gains and declines by recording a 0.7 percent fall in September, a 0.4 percent growth in October, a 0.1 percent fall in November and a 1.3 percent expansion in December.

Production in the mining and manufacturing sectors dropped 3.7 percent in January from a month earlier. Output in the auto and machinery equipment industries plunged 7.7 percent and 6.8 percent each, leading the January fall.

Retail sales slid 3.1 percent last month on a monthly basis due to fragile demand for semi-durable goods such as food and beverage. Endi