South Korea factory output unexpectedly jumps in August
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2023-10-04 07:24
SEOUL South Korea's factory output unexpectedly jumped in August by the fastest rate in more than three years,

SEOUL South Korea's factory output unexpectedly jumped in August by the fastest rate in more than three years, official data showed on Wednesday.

The industrial output index rose 5.5% in August from the previous month on a seasonally adjusted basis, after a 2.0% fall in July, according to Statistics Korea.

That contrasts with a median 0.2% fall forecast in a Reuters survey and marks the fastest monthly gain since June 2020.

On an annual basis, output was 0.5% lower, much milder than the previous month's 8.1% drop and a forecast for a 6.2% loss.

(Reporting by Jihoon Lee; Editing by Tom Hogue)

Tags economy epus finance southkorea output