South Korea’s Factory Output Declines

SEOUL (Reuters) – South Korea’s factory output fell more sharply than expected in November, according to government data released on Monday, amid slowing exports and weakening business confidence.

The industrial output index fell 0.7% over the month on a seasonally adjusted basis, following no change in the previous month. This decline was steeper than the 0.4% forecast in a Reuters survey of economists.

Year-over-year, the index was up 0.1%, significantly slower than the 6.3% growth from the previous month and below the 0.4% expected by economists.

In November, South Korea’s exports grew at their slowest rate in 14 months, as shipments to the United States and China decreased amid tariff uncertainties. Business sentiment in the country also dropped to its weakest point in more than four years this month.