SEOUL, 13th May, 2025 (WAM) -- Industrial output and retail sales in Seoul declined from a year earlier in the first quarter of this year, while the city's service sector remained relatively strong despite the broader economic slowdown, government data showed Tuesday.
Yonhap News Agency quoted data from Statistics Korea as saying that Seoul's industrial production dropped 2.1 percent on-year during the January-March period, mainly due to reduced output in the electricity and gas, food manufacturing and machinery equipment sectors.
Nationwide, however, industrial output rose 2.4 percent on-year, supported by robust production in semiconductors, electronic components and pharmaceuticals.
Retail sales in Seoul also fell 2.1 percent on-year in the first three months, largely due to weaker performance in duty-free shops and sales of automobiles and fuel.
In contrast, Seoul's service output grew 1.2 percent on-year, backed by steady gains in the real estate, arts, sports and recreation sectors, the data showed.