South Korea factory output unexpectedly drops in October
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SOUTH Korea’s factory output unexpectedly fell in October and posted the biggest drop in 10 months, official data showed on Thursday.
The industrial output index fell 3.5 per cent in October from a month earlier on a seasonally adjusted basis, according to Statistics Korea. Economists in a Reuters survey had expected a gain of 0.5 per cent.
The fall came after a gain of 1.7 per cent in September and marked the biggest monthly decline since December 2022.
On a yearly basis, the index rose 1.1 per cent, compared with gains of 2.9 per cent in the prior month and 5.2 per cent expected by economists. REUTERS
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