South Korea's industrial output rose at a slower than expected pace in August, official figures showed Friday, as the uncertain global economic outlook took its toll on local manufacturers.
Output rose 4.8 percent from the same month a year earlier, compared with an average forecast for 7.0 percent growth from economists polled by Dow Jones Newswires. Output had risen by a revised 4.0 percent in July.
The output figure, which measures production in mining and manufacturing, shrank 1.9 percent compared with a month earlier, Statistics Korea said.
It was the second consecutive month-on-month contraction following a revised 0.3 percent decline in July.
The data suggests broadly weaker growth momentum for Asia's fourth largest economy because of growing global uncertainties, Tong Yang Securities economist Lee Chul-Hee told Dow Jones.
"It's hard to expect the figures to improve until early next year, but I don't think it'll get to a point where the economy contracts in the second half," Lee said. (AFP)
