South Korean industrial production just posted a big miss for April

South Korean industrial production fell heavily in April.

The nation, saw production slip 2.7% in the 12 months to April. The figure was well below the upwardly revised flat reading of March and expectations for a decline of 0.1%.

Manufacturing output dipped 1.8% following a 0.2% contraction in March with that for export markets, worryingly, slumping by 3.1%.

South Korea is an important trading partner for many countries – it’s Australia’s fourth-largest trading partner and the sixth-largest for the U.S.

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