South Korea’s March factory output falls most in 15 months

SOUTH Korea’s factory output fell in March by the most in 15 months, government data showed on Tuesday, missing market expectations.

The industrial production index fell 3.2 per cent from a month earlier on a seasonally adjusted basis, after a gain of 2.9 per cent in February and compared with a rise of 0.6 per cent tipped in a Reuters survey of economists.

It was the fastest monthly fall since December 2022 and caused by declines in metal processing and electronic parts, according to Statistics Korea.

On an annual basis, production rose 0.7 per cent, slower than the previous month’s 4.6 per cent rise and an increase of 5.4 per cent expected by economists. REUTERS