SEOUL, Nov 30 (Reuters) - South Korea's factory output unexpectedly fell on weaker chip production in October and posted the biggest drop in 10 months, official data showed on Thursday.
The industrial output index fell 3.5% in October from a month earlier on a seasonally adjusted basis, according to Statistics Korea.
On a yearly basis, factory output rose 1.1%, compared with gains of 2.9% in the prior month and 5.2% expected by economists.
In October, output also fell in the services sector, down 0.9% over the month, marking its first decline since May.
The all-industry output index fell 1.6%, the biggest drop since April 2020.
Persons:
Jihoon Lee, Chris Reese
Organizations:
Statistics Korea, Thomson
Locations:
SEOUL