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South Korea's Industrial Production Growth Slows to 2.4% in April

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South Korea's industrial production grew 1.5% year over year in April, easing from a 3.9% increase in the previous month as output across most sectors moderated, according to data released by Statistics Korea on Friday.

While activity in the construction sector remained in negative territory, albeit at a slower pace, yearly output growth in manufacturing and services slowed to 1.6% and 3.5% from 4.2% and 5.4%, respectively, while public administration growth accelerated to 2.9% from 2.4%, the data showed.

On a seasonally adjusted basis, industrial production declined 0.7% in April, reversing the 0.6% monthly growth in March, Statistics Korea said.

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