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Slowing export, domestic sales push August industrial output lower

Industrial output dropped a workday-adjusted 0.4% year-on-year in August as exports growth slowed to 3.5%, and the domestic sales declined 8.0% yr/yr, more than in July, workday-adjusted data published by the Central Statistics Office (KSH) on Friday show.

Output fell 0.4% yr/yr according to adjusted figures after a 2.7% twelve-month rise in July, KSH said on Friday, confirming a preliminary report published on October 6.

Unadjusted output was up 4.4% yr/yr after a 0.3% rise in July and a 1.4% drop in June, the same as the preliminary. August output dropped 1.3% from July after a 0.8% month-on-month increase in July and declines in the preceding two months, seasonally and workday-adjusted figures show.

August export sales were up 3.5% yr/yr after rising 5.3% in July, the workday-adjusted figures show. Domestic sales declined a workday-adjusted 8.0% yr/yr in August after a 7.3% drop in July.

August exports rose 1.3% from July and domestic sales dropped 0.1% on the month according to seasonally and workday-adjusted figures.

January-August sales were up 6.7% yr/yr, with export sales rising 9.8% and domestic sales dropping 5.0% in the period.