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.