South Korea February factory output rises most in six months

A Hanwha Aerospace engineer works on a KAAV (Korean Amphibious Assault Vehicle) at Hanwha Aerospace factory in Changwon, South Korea, March 16, 2023. REUTERS/Kim Hong-Ji/File photo

SEOUL — South Korea’s factory production rose in February by the fastest pace in six months, while retail sales dropped, official data showed on Friday.

The industrial output index rose 3.1 percent in February on a seasonally adjusted monthly basis, after a fall of 1.5 percent in January, according to Statistics Korea.

That was faster than a gain of 0.5 percent tipped in a Reuters survey of economists and the fastest monthly rise since August.

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Retail sales fell 3.1 percent, after a rise of 1 perent in the previous month, marking the biggest drop since July.