South Korea's factory output falls at fastest pace in 19 months, misses expectations

[SEOUL] South Korea's industrial production fell by a seasonally adjusted 2.4 per cent in August, data showed on Friday, posting the biggest decline in 19 months.

The drop is the sharpest since January 2015 when the index fell 3.5 per cent on monthly terms, and is short of a 0.5 per cent fall estimated by analysts in a Reuters poll. It rose 2.3 per cent from a year earlier.

The August reading follows a revised 1.3 per cent increase in July, short of a preliminary 1.4 per cent gain reported earlier.

The service sector output grew 0.7 per cent in seasonally adjusted terms on-month after a revised 0.3 per cent decline in July.

REUTERS