South Korea’s industrial output grew in June, but its pace sharply decelerated in the face of headwinds from the eurozone debt crisis and concerns over global slowdowns, a government report showed Tuesday. According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries expanded 1.6 percent last month from a year earlier, sharply slowing from the 2.9 percent on-year gain tallied in the previous month. The output also contracted 0.4 percent last month compared with a month earlier, the first on-month shrinkage in three months, South Korea’s news agency (Yonhap) reported. The country’s service sector production, meanwhile, advanced 1.2 percent in June from a year earlier, but it edged down 0.4 percent compared with the previous month, the report showed.
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