On Wednesday, Statistics Korea announced that South Korea’s industrial output had a rebound in August from the month before due to the strong revival of the semiconductor sector.
The industrial production index rose by 2.2% in August compared to July, which had previously decreased by 0.8%. Data showed that the output from the semiconductor industry grew 13.4% month-over-month.
The rebound came after all of the country’s industrial output, retail sales, and facility investment had dropped in July for the first time since January.
Retail sales, which is a measure of private spending, dropped 0.3% in August compared to the previous month. On the other hand, facility investment increased 3.6% month-over-month in August.