SEOUL: Industrial production in South Korea reduced for two straight months due to sluggish exports that caused a fall in production among manufacturers, a government report showed Wednesday.
Production in all industries declined 0.5 percent in November from a month earlier, after falling 1.3 percent in the previous month, according to Statistics Korea.
Faltering exports contributed mainly to the slower industrial activity. Exports, which account for about half of the economy, tumbled 4.7 percent in November from a year earlier, keeping a downward trend for 11 months in a row.
Production in the mining and manufacturing industries reduced 2.1 percent in November from a month earlier.
Chip production retreated 9.7 percent, and output in the communication and broadcasting equipment sector sank 20.2 percent.
Inventory among manufacturers surged 6.2 percent on-year in November. Manufacturers operated at a capacity of 72.7 percent in November, marking the lowest in more than six years since April 2009.
