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South Korea’s factory output contracted more than expected in August, but retail sales rise

Production in South Korean factories fell for the second month in a row in August, while retail sales rose.

The country’s industrial production fell 1.8% month-on-month, compared with a 1.3% decline in July.

Services sector output rose 1.5% month-on-month. Meanwhile, retail sales rose by 4.3%, the fastest increase since May 2020.

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