SEOUL, June 28, 2024 (BSS/XINHUA) - South Korea's industrial output turned downward in May amid the continued fall in consumption and investment, statistical office data showed Friday.

The seasonally-adjusted production index in all industries, which excludes the agriculture, livestock and fishery sector, shrank 0.7 percent in May from a month earlier after rising 1.2 percent in the previous month, according to Statistics Korea.

Production among manufacturers dipped 1.1 percent in May, turning downward from an increase of 2.7 percent in April.

Semiconductor output added 1.8 percent, but production in automobiles, machinery equipment and primary metal products retreated in single digits.

The ratio of inventory to shipment in the manufacturing industry gained 0.7 percentage points from a month earlier to 110.9 percent in May.

Manufacturers recorded an average capacity ratio of 72.8 percent in May, down 0.7 percentage points compared to the previous month.

Production in the construction industry tumbled 4.6 percent, but output in the public administration sector climbed 2.2 percent last month.

Output in the service industry lost 0.5 percent in May on a monthly basis, after growing 0.7 percent in the previous month.

The seasonally-adjusted retail sale index, which reflects private consumption, shed 0.2 percent in May from a month earlier after sliding 0.8 percent in the prior month.

Sales of durable and non-durable goods gained ground, but the sale of semi-durable goods such as clothing dived 2.9 percent last month.

Facility investment plunged 4.1 percent in May on a monthly basis, keeping a downward trend for the third straight month.

Completed construction diminished 4.6 percent in May after going up 4.2 percent in the previous month.

The cyclical variation factor for leading economic indicators, which gauges the outlook for future economic situations, fell 0.1 point to 100.5 in May compared to the previous month.

The reading for coincident economic indicators, which measures the current economic condition, dropped 0.6 points to 98.8 in the cited month.