Economic Indicators

South Korea Sept factory output unexpectedly falls on weaker chip production

2024.10.30 19:35

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.

© Reuters. FILE PHOTO: A factory is seen in Incheon, South Korea, May 30, 2016.  REUTERS/Kim Hong-Ji/File Photo

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.



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