Industrial production fell a seasonally adjusted 9.4 percent in February, the government said Monday.

It was the fifth straight month that output fell — the longest slump since 2001 — as global demand for automobiles and high-tech products continued to erode. However, there are signs that production may pick up in the coming months in parallel with recent sharp cuts in inventories.

The index of inventories dropped a record 4.2 percent, the Ministry of Economy, Trade and Industry said in a preliminary report.