South Korean manufacturers' domestic supply fell for the third consecutive quarter in the first quarter of 2024 amid weak demand, data showed Thursday. The manufacturing domestic supply index stood at 102.5 in the January-March period, down 2.4 percent from the previous year, according to the data from Statistics Korea. The quarterly figure has been on a constant decrease since the third quarter of last year. The index, which measures both locally produced goods and imports, serves as a major indicator of domestic demand trends. Supplies of locally produced goods inched down 0.6 percent and imports for domestic use sank 6.7 percent, the agency said. By industry, domestic auto supply shed 5.9 percent, and the supply of semiconductors and other electronic items tumbled 8.9 percent. Chemical products saw a 6.4 percent fall in domestic supply. But the index for container ships and other transportation equipment jumped 26.5 percent on-year in the January-March period. Domestic demand for consumer goods went down 3.2 percent on-year on dwindling demand, while the supply of capital goods inched up 0.1 percent. The supply of intermediate goods fell 4 percent on-year, the data showed. The South Korean economy has been recovering modestly on rising exports, but domestic demand remains weak amid still-high interest rates and inflation. The government has presented a 2.2 percent growth projection for 2024 following 1.4 percent expansion last year. Source: Yonhap News Agency