SEOUL, Jan. 29 (Yonhap) — South Korea’s industrial output, consumption and investment increased on-month in December, data showed Friday, in the latest sign that the country’s economy is on a recovery track amid the pandemic.
But for all of 2020, the nation’s overall industrial output declined for the first time since 2000, stung by the fallout of the COVID-19 pandemic, according to Statistics Korea.
The country’s industrial output grew 0.5 percent in December from the previous year, compared with a 0.8 percent on-month gain in November, the data showed. From a year earlier, it declined 0.3 percent.
Last month, consumption rebounded for the first time since September despite a resurgence in coronavirus cases.
Retail sales inched up 0.2 percent from a month earlier, a turnaround from a 0.9 percent on-month decline, the data showed.
Facility investment also rose 0.9 percent on-month in December, compared with a 3.5 percent gain the previous month.
For the whole of 2020, the country’s industrial output fell 0.8 percent on-year, compared with a 0.6 percent on-year gain in the previous year.