Seoul, June 30 -- South Korea's industrial output declined for a second consecutive month in May, as weakening global demand and the impact of US trade restrictions continued to weigh on key sectors of the economy, hampering Seoul's economic growth significantly.
According to data released by Statistics Korea on Monday, the seasonally adjusted industrial production index - excluding agriculture, livestock, and fisheries - fell by 1.1% in May from the previous month, following a 0.8% drop in April.
Manufacturing, a core component of the economy, contracted sharply by 3% in May, compared to a 0.6% decline the month before.
Officials linked the downturn to a fall in overseas demand for Korean-made goods, partly due to protectionist p...