Slowdown signs - South Korean May industrial output down by 9pct YoY
Wednesday, 01 Jul 2009
Yonhap reported that South Korea's industrial output shrank in May from a year earlier as production in the automobile and machinery sectors declined due to sluggish demand.
According to the report by National Statistical Office, production in the mining and manufacturing sectors fell by 9% YoY in May 2009 from a year earlier. April show an 8.2% YoY decrease.
The May figure is worse than a median estimate of an 8.6% decline in a poll conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency.
