South Korea's Output Drops More Than Estimates as Exports Slump
- Factory output falls 1.9% y/y, more than 0.6% drop in survey
- Exports fell for 14th month through Feburary on slowing demand
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South Korea’s industrial output dropped even more than estimated in January as a slump in exports and the end of temporary tax benefits weighed down production.
Falling production is a risk to the government’s target of achieving 3.1 percent growth this year. Overseas shipments dropped for a 14th straight month in February as the export-dependent economy suffered from weaker demand in key markets including China.