South Korea factory output inches up at the fastest annual rate in four years

South Korea factory output inches up at the fastest annual rate in four years

South Korea's September factory output managed to ascend from September. It demonstrated the fastest annual leap for four years. That’s what Statistics Korea unveiled on Tuesday.

Factory output surpassed a 4.7% estimate and grew 8.4% from 2016 on what a Statistics Korea official told was a base-year effect.

As a matter of fact, output only ascended a seasonally adjusted 0.1% from August, which is far below the 2.4% observed in a Reuters survey.

The "super-cycle" in memory chips has appeared to be a particular miracle for the South Korean economy specializing in hi-tech exports.  The country’s GDP rallied over the July-September period, demonstrating the fastest rate for seven years.

The chip boom actually assisted Samsung Electronics in booking a record operating revenue in the third quarter because tight supply as well as strong demand for semi-conductors powered revenue.


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