July 30, 2020 / 11:17 PM / 5 days ago

S.Korea's June factory production marks fastest monthly growth in over 11 years

SEOUL, July 31 (Reuters) - South Korea’s factory output in June jumped at the sharpest pace in more than 11 years and much faster than expected, data showed on Friday, signalling hopes of a recovery in the coronavirus-struck economy.

Industrial production rose by a seasonally adjusted 7.2% in June from a month earlier, according to Statistics Korea, logging the fastest growth since February 2009, and largely beating the median forecast of a 2.1% rise.

From a year earlier, factory output edged down 0.5%, but that was much better than the previous month’s 9.8% decline and a 4.9% fall forecast in a Reuters survey. (Reporting by Joori Roh; Editing by Muralikumar Anantharaman)

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