South Korea Sept factory output beats forecast; chip production jumps

SOUTH Korea’s factory output rose for a second straight month in September on increasing chip production, beating market expectations.

The industrial output index rose 1.8 per cent over the month on a seasonally adjusted basis, official data showed on Tuesday, compared with a revised gain of 5.2 per cent the previous month and a loss of 0.9 per cent tipped in a Reuters survey.

Semiconductor production led the index higher, jumping 12.9 per cent. Machinery, mostly for chip manufacturing, rose 5.1 per cent, while cars fell 7.5 per cent.

On an annual basis, the index rose 3.0 per cent, the fastest since June 2022, according to Statistics Korea. Economists had expected no change. REUTERS