S.Korea Nov factory output jumps, beats expectations

1 min read
A factory is seen in Incheon

SEOUL – South Korea’s factory output in November far outperformed expectations on strong exports orders for cars and chips, government data showed on Thursday.

Industrial production last month increased by a seasonally adjusted 5.1% from October, beating a median 2.5% gain tipped in a Reuters survey as car output soared 11.3%.

On an annual basis, output jumped 5.9%, also outperforming a 3.2% growth forecast in the poll.

(Reporting by Cynthia Kim; Editing by Chris Reese)