South Korea Industrial Production Sinks 0.7% In August

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Industrial production in South Korea was down a seasonally adjusted 0.7 percent on month in August, Statistics Korea said on Tuesday – beating forecasts for a decline of 1.5 percent following the 1.6 percent increase in July.

On a yearly basis, industrial production sank 3.0 percent – missing expectations for a fall of 2.8 percent following the 2.5 percent drop in the previous month.

The index of all industry production was down 0.9 percent on month and 3.4 percent on year after adding 0.1 percent on month and losing 1.5 percent on year in July.

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