The Korea Times
Korea's industrial output, which tumbled in April from a month earlier in the wake of tensions in the Middle East, is likely to rebound in May amid signs of improvement in business sentiment, the finance minister said Friday. The remark came after the Ministry of Data and Statistics said earlier in the day that the country's industrial output fell 0.6 percent in April from a month earlier, with retail sales and facility investment all losing ground. "The April figures underwent a temporary correction due to a base effect following strong performances over the past months," Finance Minister Koo Yun-cheol said during a meeting with economy-related ministers. "As consumer and business sentiment have rebounded sharply, with exports maintaining a strong performance, the industrial output figures are expected to return to an upward trend," Koo added. Korea's industrial output rose 2.1 percent in February and 0.4 percent in March from a month earlier. "The government will seek to minimize burdens on people's livelihoods caused by high fuel prices and make efforts to revitalize various sectors of
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