South Korea output grows for 21st month

SEOUL: South Korea's industrial output grew for the 21st straight month in March thanks to continued economic expansion fuelled by brisk exports, official figures showed Friday. Statistics Korea said production in mining and manufacturing last month rose 8.7 percent from a year earlier. Output has increased every month since July 2009. Month-on-month, production grew 1.4 percent. The expansion was fuelled mainly by increased production of semiconductors, components and automobiles, it said. Retail sales grew 4.9 percent on-year last month, helped by strong demand for vehicles and other durable goods, while investment in corporate facilities inched up 0.3 percent. Analysts said brisk exports would continue to support the economy, although domestic consumption was still not strong enough. "Exports are still doing very well, but the wealth they generate has yet to  be distributed to households," HI Investment and Securities economist Park  Sang-Hyun told Dow Jones Newswires.