Seoul - Saba:
Data released by Statistics Korea on Friday revealed a decline in industrial production, retail sales, and facility investment in South Korea in April compared to March.
According to the Korean News Agency, citing the statistics agency, industrial output fell by 0.8% last month, reversing the modest gains recorded in March. Retail sales, a key indicator of private spending, dropped by 0.9% in April compared to the previous month, while facility investment declined by 0.4%.
Lee Doo-won, an official from Statistics Korea, attributed the overall decline in April’s key indicators to tariff-related issues, sluggish recovery in consumer confidence, and continued weakness in the construction sector.
He noted that the recent U.S. administration’s imposition of a 25% tariff on imported vehicles, effective April 3, may have contributed to the decline in automobile production.
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