SEOUL - South Korea's factory output dropped in October by more than expected and at the fastest pace in nearly 2-1/2 years, government data showed on Wednesday, amid weakening demand due to a global economic slowdown, and aggressive rate hikes. The country's industrial output fell by a seasonally adjusted 3.5 percent in October from a month earlier, accelerating from a revised 1.9 percent decline in September, according to Statistics Korea. It missed economists' expectations of a 1-percent fall tipped in a Reuters survey and marked the fastest decline since May 2020. By product, cars and machineries fell 7.3 percent and 7.9 percent , respectively, leading the losses. Output ...
Keep on reading: South Korea Oct factory output drops at fastest pace since May 2020
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Keep on reading: South Korea Oct factory output drops at fastest pace since May 2020
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