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Korea factory output falls at fastest pace in 19 mths, misses expectations
September 29, 2016 / 11:07 PM / a year ago

Korea factory output falls at fastest pace in 19 mths, misses expectations

SEOUL, Sept 30 (Reuters) - South Korea’s industrial production fell by a seasonally adjusted 2.4 percent in August, data showed on Friday, posting the biggest decline in 19 months.

The drop is the sharpest since January 2015 when the index fell 3.5 percent on monthly terms, and is short of a 0.5 percent fall estimated by analysts in a Reuters poll. It rose 2.3 percent from a year earlier.

The August reading follows a revised 1.3 percent increase in July, short of a preliminary 1.4 percent gain reported earlier.

The service sector output grew 0.7 percent in seasonally adjusted terms on-month after a revised 0.3 percent decline in July. (Reporting by Cynthia Kim and Christine Kim; Editing by Sandra Maler)

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