S.Korea Nov factory output jumps, beats expectations

A factory is seen in Incheon
FILE PHOTO: A factory is seen in Incheon, South Korea, May 30, 2016. REUTERS/Kim Hong-Ji

December 29, 2021

SEOUL (Reuters) – 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)