News Room - Business/Economics

Posted on 01 Dec 2008

S Korea`s industrial output shrinks 2.4% in October

 

South Korea's industrial output fell for the first time in 13 months in October amid sluggish domestic demand and spreading concerns over a global slowdown, a government report showed today.

 

According to the report by the National Statistical Office (NSO), industrial production shrank 2.4 per cent last month from a year earlier, sharply slowing from a 6.2 per cent on-year advance in September.

 

This marked the first decline since the output contracted 3.1 per cent in September 2007.