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South Korea August factory output unexpectedly declines from July

South Korea August factory output unexpectedly declines from July

FILE PHOTO: An employee works in an assembly line at a mask factory in Icheon, South Korea, March 6, 2020. REUTERS/Heo Ran

SEOUL : South Korea's factory output in August unexpectedly declined from a month earlier, but continued to log growth on a year-on-year basis for the 10th straight month helped by strong demand for semiconductors.

Industrial production last month fell by a seasonally adjusted 0.7per cent, missing a 0.5per cent gain forecast in a Reuters survey and following 0.2per cent growth in July.

Output expanded 9.6per cent on an annual basis, better than 8.2per cent growth forecast in the poll and a 7.7per cent expansion in July.

(Reporting by Joori Roh; Editing by Jacqueline Wong)

Source: Reuters

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