South Korea’s Nov factory output posts largest drop since Jan
The decrease was led by lower output in semiconductors and communications equipment as well as persistently muted global demand. Factories’ average operating rates also declined to 72.7% in November, posting the lowest level since April 2009. According to Reuters, South Korea’s industrial output is likely to remain weak in December.
However, data showed that South Korea’s service-sector output rose for a fifth consecutive month in November, increasing 0.1% on a seasonally adjusted basis from October. Analysts commented that this was the longest upward trend for services since early 2011.
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