Industrial output, retail sales grow in June amid economic recovery

By Kim Soo-yeon

SEOUL, July 30 (Yonhap) — South Korea’s industrial output and retail sales increased in June from the previous month in the latest sign that Asia’s fourth-largest economy is on a solid recovery track, data showed Friday.

Industrial output rose 1.6 percent in June from the previous month, after stayed flat in May, according to the data compiled by Statistics Korea.

From a year earlier, it increased 6.7 percent.

Retail sales, a gauge of private spending, rebounded in June after suffering the biggest fall in 10 months in May.

Retail sales increased 1.4 percent from a month earlier, a turnaround from a 1.8 percent on-month fall in May, the data showed.

Facility investment fell 0.2 percent on-month last month, compared with a 2.9 percent on-month decline the previous month.

Major economic data showed economic recovery momentum remains robust, but the fourth wave of the coronavirus pandemic and the imposition of the toughest-ever virus curbs are heightening economic uncertainty, according to the statistics agency.

Industrial output, retail sales grow in June amid economic recovery

sooyeon@yna.co.kr
(END)

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