South Korea Sept factory output unexpectedly falls on weaker chip production
7:04 pm Wednesday, October 30th, 2024
SEOUL (Reuters) – South Korea’s factory output unexpectedly fell in September on weaker chip production, government data showed on Thursday.
The industrial output index fell 0.2% over the month on a seasonally adjusted basis, according to Statistics Korea, after a rise of 4.4% in the prior month, which was the fastest in a year.
The fall came against the median forecast of a 1.2% rise in a Reuters poll of economists.
Production of semiconductors fell 2.6%.
The index fell 1.3% on a year-on-year basis, compared with gains of 3.8% the month before and 0.8% expected by economists. It was the first annual decline since July 2023.
(Reporting by Jihoon Lee; Editing by Christian Schmollinger)
