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South Korea's factory output unexpectedly jumped in August by the fastest rate in more than three years, led by chip production, official data showed on Wednesday. The industrial output index rose 5.5% in August from the previous month on a seasonally adjusted basis, after a 2.0% fall in July, according to Statistics Korea. That contrasts with a median 0.2% fall forecast in a Reuters survey and marks the fastest monthly gain since June 2020.
SEOUL (Reuters) -South Korea's factory production unexpectedly jumped in May, led by cars and chips, official data showed on Friday, while retail sales also rose last month in an encouraging sign for a slowly recovering economy. The industrial output index rose 3.2% in May on a seasonally-adjusted monthly basis, the Statistics Korea data showed, compared with losses of 0.6% in April and 0.8% tipped in a Reuters survey. The all-industry production index, which includes both the manufacturing and services sectors, rose 1.3% in May on-month, recouping April's 1.3% loss.
PETALING JAYA: Unemployment in the country has dipped to 3.8% - its lowest since the Covid-19 pandemic outbreak two years ago, says Datuk Seri Mustapa Mohamed.
Shortages in material and equipment weighed heavily on activity and sentiment in the European economy in 2021. This column uses cross-country and cross-sector data from the European Commission’s Business and Consumer Surveys and finds a strong negative relationship between shortages and industrial output. Shortages appear to have detracted some 5 percentage points from the EU