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Industrial Output Dips 0.4% in October

Written: 2016-11-30 13:52:47Updated: 2016-11-30 15:03:48

Industrial Output Dips 0.4% in October

South Korea's industrial output fell for the second consecutive month in October due to a slump in the mining, manufacturing and service industries.
 
According to Statistics Korea on Wednesday, industrial output shrank four-tenths of a percent in October from a month earlier.
 
The nation’s industrial output had remained unchanged from July to August before slipping eight-tenths of a percent in September.
 
As for factors that led the decline, the statistics agency pointed to the impact of a strike by unionized rail workers following restructuring in the shipbuilding and marine transport sectors as well as Samsung Electronics' Galaxy Note 7 ordeal.
 
Accordingly, manufacturers’ average operating rate also dipped one-point-three percentage points to 70-point-three percent.

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