South Korea Aug factory output expands, beats expectations

[SEOUL] South Korea's industrial output expanded in August from July, data showed on Thursday, beating expectations of a decline and lending support to hopes for a sustained economic rebound.

The industrial output index rose by a seasonally adjusted 0.4 per cent in August from July, Statistics Korea data showed, stronger than a median 1.1 per cent fall tipped in a Reuters survey.

The July reading was revised up to a 0.3 per cent decline from the 0.5 per cent fall reported earlier.

On an annual basis, industrial output gained 0.3 per cent in August, compared to a median 2.0 per cent fall tipped in the Reuters survey and following a revised 3.2 per cent fall in July.

The statistics agency data also showed the service-sector output index grew by a seasonally adjusted 0.4 per cent in August after a revised 1.7 per cent rise in July.

REUTERS