▲ This file photo taken Aug. 11, 2022, shows stacks of containers at a port in South Korea's southeastern city of Busan. (Yonhap)

industrial output-July

S. Korea suffers fall in production, consumption, investment in July

By Kim Soo-yeon

SEOUL, Aug. 31 (Yonhap) -- South Korea's industrial output, retail sales and investment declined in July in the latest sign that Asia's fourth-largest economy is losing steam amid heightened external uncertainty, data showed Wednesday.

Industrial output fell 0.1 percent in July from the previous month, compared with a 0.8 percent on-month increase in June, according to the data from Statistics Korea.

Compared with a year earlier, industrial production grew 3.8 percent.

Retail sales, a gauge of private spending, declined 0.3 percent in July, following a 1 percent on-month fall the previous month.

Consumption fell for the fifth straight month for the first time since the statistics agency began compiling related data in 1995.

Facility investment retreated 3.2 percent on-month in July, compared with a 4 percent increase the previous month.

The South Korean economy is slowing down as it is grappling with runaway inflation and export growth could lose momentum amid heightened external economic uncertainty.

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