Industrial output drops 1.8% in February

By Park Sae-jin Posted : March 28, 2014, 10:59 Updated : March 28, 2014, 11:09
South Korea's industrial output dropped for the second consecutive month in February, which ignited concerns that the economic recovery may slow down.

The national statistical office reported Friday that industrial output fell 1.8 percent in February from a month earlier, following a 0.1 percent decrease in January.

Production of automobiles, and semiconductors and parts dropped 7.2 percent and 4.9 percent on-month in February, respectively.

The office said the lower output in the first two months of this year is a temporary phenomenon, noting that the Lunar New Year holiday reduced working hours and consumers delayed new car purchases.

According to a survey conducted by the Bank of Korea, business sentiment among South Korean manufacturers reached 86 for April, the highest since May 2012. The index for March stood at 85.

A reading above 100 on the index means optimists outnumber pessimists. 
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