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South Korea’s factory output misses estimates in October

by ChemOrbis Editorial Team -
  • 28/11/2014 (14:43)
According to media reports, South Korea’s industrial production fell below estimates in October. The country’s factory output decreased 1.6% month over month in October. Initial estimates called for an increase of 0.8% in a survey by Reuters.

On an annual basis, the country’s industrial production fell 3.2% in October after posting a 1.9% increase in the previous month. The decrease was attributed to weak demand both at home and abroad. However, it was reported that the country’s service sector expanded by a seasonally adjusted rate of 0.8% on a monthly basis in October following a 0.2% gain posted in September.
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