SEOUL, June 30 (Xinhua) -- Industrial production and private consumption in South Korea fell last month, offsetting the recovery of exports, which account for about half of the economy, a government report showed Friday.
Production in all industries shed 0.3 percent in May from a month earlier, according to Statistics Korea. It marked the second consecutive month of decline.
Industrial activity among manufacturers grew amid the exports recovery in recent months, but those for the services companies slowed down on weak domestic demand.
Production in the mining and manufacturing industries rebounded 0.2 percent thanks to solid demand for electronic parts and semiconductors, of which production advanced 4.7 percent and 9.1 percent each.
Output in the services sector dipped 0.3 percent, posting the first slide in seven months.
Retail sales, which reflect private consumption, declined 0.9 percent in May from the previous month, the biggest monthly fall since January this year.
Demand for durable goods such as telecommunication devices and computers slumped 1.2 percent on the weak effect of new smartphones, while demand for semi-durable goods such as clothing sank 3.3 percent.
Facility investment rose 1.8 percent on strong demand for semiconductor equipment that offset soft demand for transport equipment.
Machinery orders surged 26.4 percent in May from a year ago, while completed construction slipped 1.6 percent in May from the previous month.
