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.

Similar

Earnings Season is In Focus
Earnings Season is In Focus

Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?

Can XAUUSD Move Higher?
Can XAUUSD Move Higher?

The dollar's status as the world's reserve currency could only be recovered if the US controls its spending. The huge budget deficit and rising interest rates on the US national debt should scare every American, analysts say. Read the full report to learn more!

Latest news

The Yen Sets New Lows
The Yen Sets New Lows

The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!

BlackRock CEO Supports The USD
BlackRock CEO Supports The USD

BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera