Business & Finance
S.Korea Aug factory output falls far short of forecasts
SEOUL : South Korea 's industrial output in August shrank for a second successive month and far more than expected from
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The industrial output index fell by a seasonally adjusted 1.9 percent in August from July after a revised 0.3 percent fall in July, data from the Statistics Korea showed.
The output index -- which covers manufacturing and mining production -- was expected to fall 0.3 percent from July after heavy rains hurt food industries and construction, according to a Reuters poll.
Factory output grew 4.8 percent last month from a year earlier, also missing the median forecast for a 6.0 percent expansion from the Reuters survey.
The composite leading indicator, a measure of future economic conditions, was up 2.0 percent in August from a year earlier, steady from July.
Copyright Reuters, 2011