1 Jan 2012

Domestic demand shrinking in South Korea

2:55 pm on 1 January 2012

Industrial output in South Korea shrank in November due to weaker domestic demand.

The statistical office said on Thursday that output fell by 0.4% from October.

Spending on the equipment, construction and service sectors saw the biggest declines.

However, the BBC reports the annual rate of industrial output was up 5.6% in November when compared to the same month a year earlier.

At the same time, exports in the mining and manufacturing sectors rose by 8%.