S Korea’s industrial output growth decelerates in June

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.