South Korea’s industrial output grew 1.8 percent in October from the previous month, which increased expectations that the economy may pick up, the country’s statistical office said Friday.
The figure marked the highest level since November last year when production in the mining, manufacturing, gas and electricity industries gained 2.1 percent.
Industrial output fell 2.3 percent in September from a month earlier, showing signs of slowdown.
Analysts attributed the fall to partial strikes staged by unionized workers at automakers and a reduction of working hours during the Chuseok (Korean version of Thanksgiving Day) holiday. The decrease is a comparison from 1.5 percent gain in August.
The October growth was largely attributable to robust business activity in the manufacturing sector.
The manufacturing output rose 2 percent on-month in October, compared with a 2.5 percent decline tallied in the previous month, according to Statistics Korea.
