S. Korea's Factory Output Unexpectedly Falls on Export Decline
- Industrial production fell 0.3% Y/y; vs +1.6% estimate
- Transport equipment like ships drops 15.5%, machinery down 9%
An employee uses a welding torch while working on a ship under construction in the dry dock at the Hyundai shipyard in Ulsan. Industrial production fell 0.3 percent from a year earlier, Statistics Korea said. Output fell 2.1 percent from October, the most since January this year.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
South Korea’s factory output missed estimates in November as poor exports due to weak global demand continue to weigh on production in Asia’s fourth-largest economy.
Industrial production fell 0.3 percent from a year earlier, Statistics Korea said. Output fell 2.1 percent from October, the most since January this year. Exports declined in the first 11 months of this year and that trend is expected to continue, with an almost 12 percent drop forecast for this month.