South Korean Industrial Output Growth Eases In October

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South Korea industrial output rose 0.2% year-on-year in October, slowing sharply from a 11% growth in the previous month, the National Statistical Office said Monday. Economists expected a 5.8% rise in output. Working day adjusted, industrial output was up 4.2%.

Month-on-month, industrial output slipped 3.8%, reversing a 5.6% rise in the previous month.

At the same time, the services activity rose 1.5% year-on-year in October, but slower than a 4.5% increase in September. On a monthly basis, services activity dropped 1.4% compared to a 2.8% rise in the previous month.

Further, the composite leading index rose 1% in October from September to 125.7. The 12-month smoothed growth in the index was 11.3% in October compared to 10.2% in September. Meanwhile, the composite coincident index climbed 0.4% month-on-month to 120.6.

(Market News Provided by RTTNews)