South Korea Sept factory output increases 0.3% m-o-m, better than expected

[SEOUL] South Korea's industrial output rose by a seasonally adjusted 0.3 per cent in September from the previous month, data showed on Monday, outperforming expectations and bouncing back from a 2.4 per cent fall in August that was unchanged from estimates.

It was better than the median 0.5 per cent decline forecast in a Reuters survey.

On an annual basis, industrial output fell 2 per cent in September after a revised 2.2 per cent gain in August, the Statistics Korea data showed.

It compared to a median 1.5 per cent fall tipped in the Reuters survey.

Statistics Korea said service-sector output fell 0.6 per cent in September on a seasonally adjusted basis following a revised 0.8 per cent rise in August.

REUTERS