Don’t miss the latest developments in business and finance.

South Korea's industrial output grows

Image
IANS Seoul
Last Updated : Aug 30 2013 | 12:50 PM IST

South Korea's industrial output grew last month due to a solid production increase in the construction sector, offsetting declines in the manufacturing and service industries, a government report showed Friday.

Production in all industries, including manufacturing, service, construction and public administration, rose 0.3 percent in July from a month earlier, Xinhua reported citing Statistics Korea.

It was the first growth in three months.

Output in the manufacturing and service industries reduced due to a rise in rainy days, but it was relieved by a gain in production of the construction sector.

"Rising rainy days curbed consumption during the rainy season, but solid exports bolstered production," said Kim Jong-soo, an economist at NH Investment and Securities.

Also Read

First Published: Aug 30 2013 | 12:46 PM IST

Next Story