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S.Korea Feb factory output falls after jump in Jan, sharpest drop since late 2008
March 30, 2017 / 11:16 PM / 8 months ago

S.Korea Feb factory output falls after jump in Jan, sharpest drop since late 2008

SEOUL, March 31 (Reuters) - South Korea’s industrial output fell by a seasonally adjusted 3.4 percent in February from a month earlier, government data showed on Friday, marking the sharpest drop since late 2008.

The decline was largely due to the unusually sharp 2.9 percent jump seen in January, revised down from a 3.3 percent rise seen earlier.

From a year earlier, output jumped 6.6 percent in February after a revised 1.4 percent gain in the previous month, Statistics Korea said. Previously, the output gain had been reported at 1.7 percent.

A Reuters poll projected output would show no growth from a month earlier.

Factory output data tends to be volatile, even after adjustment for seasonal factors.

Service sector output edged up 0.1 percent on-month, compared to a 0.3 percent rise in January in seasonally adjusted terms, also revised slightly down from 0.5 percent reported earlier.

Reporting by Christine Kim; Editing by Eric Meijer

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