Industrial output rises for 4th month; retail sales fall in February

South Korea's industrial output rose for the fourth consecutive month in February on the back of increasing semiconductor production, but retail sales fell amid high inflation, data showed Friday. Industrial output increased 1.3 percent on-month last month, following a 0.4 percent climb the previous month, according to the data compiled by Statistics Korea. The growth came as the output in the overall mining and manufacturing sector rose 3.1 percent, as chip production advanced 4.8 percent and the output of mechanical equipment jumped 10.3 percent. Compared with a year earlier, industrial output climbed 2 percent, with that of semiconductors surging 65.3 percent, the data showed. Retail sales, a gauge of private spending, fell 3.1 percent on-month in February, the first drop since December last year. The decline was led by dwindling sales of food, cosmetics and other non-durable goods. On an on-year basis, however, retail sales inched up 0.9 percent. Facility investment gained 10.3 percent in February from the previous month, while construction investment shed 1.9 percent on-month, the data showed. Source: Yonhap News Agency