South Korea Industrial Production Sinks 3.5% In October

Industrial output in South Korea was down a seasonally adjusted 3.5 percent on month in October, Statistics Korea said on Thursday.

That missed forecasts for a gain of 0.5 percent following the downwardly revised 1.7 percent increase in September (originally 1.8 percent).

On a yearly basis, industrial production rose 1.1 percent – again shy of expectations for a gain of 5.0 percent following the downwardly revised 2.9 percent increase in the previous month (originally 3.0 percent).

Equipment investment decreased by 3.3 percent on month due to a decrease in both investment in machinery and transportation equipment, while construction equipment gained 0.7 percent on month due to an increase in construction work.

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