South Korea Industrial Production Sinks 3.5% In October

Industrial output in South Korea was down a seasonally adjusted 3.5 percent on month in October, Statistics Korea said on Wednesday.

That missed expectations for a decline of 1.0 percent following the downwardly revised 1.9 percent contraction in September (originally -1.8 percent).

On a yearly basis, industrial production sank 1.1 percent – also missing forecasts for a flat reading following the downwardly revised 0.7 percent increase in the previous month (originally 0.8 percent).

The index of all industry production fell 1.5 percent on month and 2.8 percent on year.