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| South Korea's industrial output, retail sales and infrastructure investment lost momentum in July 2023, data showed on August 31. (Source: Yonhap) |
Output in the mining, manufacturing, gas and electricity sectors fell 2%, led by an 11.2% decline in the electronics sector.
However, the decline was mitigated by a 28.5% increase in clothing output.
Services output rose 0.4% in July, led by the information and communications sector.
Wholesale and retail output fell 1.2%.
Retail sales, a gauge of consumer spending, fell 3.2%, as demand for durable goods such as cars dropped 5.1%.
Demand for goods such as clothing fell 3.6%.
Infrastructure investment fell 8.9%, mainly due to weak transport equipment and engineering segments.
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