Industrial production in South Korea experienced a seasonally adjusted decline of 0.4 percent in July, according to Statistics Korea. This decrease aligns with market expectations following a 0.5 percent increase in June.The drop in industrial production was primarily driven by a substantial 3.6 percent reduction in the mining sector, which was slightly mitigated by a 0.7 percent rise in the services sector.Retail sales fell by 1.9 percent month-over-month, largely due to decreased sales of vehicle fuel and passenger cars. This follows a 1.0 percent increase in the previous month.On the other hand, facility investment saw a significant rise of 10.1 percent month-over-month, driven by heightened investment in transportation equipment. Conversely, investment in construction equipment decreased by 1.7 percent, attributed to a decline in civil engineering construction performance.Meanwhile, the cyclical component of the Leading Composite Index dropped 0.6 points month-over-month, while the cyclical component of the Coincident Composite Index remained stable.The material has been provided by InstaForex Company – www.instaforex.com
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