South Korea Industrial Output Sinks 2.9% In May

(RTTNews) - Industrial production in South Korea was down a seasonally adjusted 2.9 percent on month in May, Statistics Korea said on Monday.

That was well shy of expectations for a decline of 0.1 percent on month following the upwardly revised 0.6 percent contraction in April (originally -0.9 percent).

On a yearly basis, industrial production rose 0.2 percent - again missing forecasts for a gain of 2.6 percent following the upwardly revised 5.1 percent jump in the previous month (originally 4.9 percent).

Retail sales were flat on month, beating forecasts for a decline of 0.1 percent following the 0.9 percent drop a month earlier.