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S. Korea data points to downturn

12-29-2011 14:17 BJT

South Korea factory output unexpectedly shrank and imports fell sharply in November, signaling Asia's fourth-largest economy is feeling the chill from an anemic global demand.

Data shows industrial output fell by a seasonally adjusted 0.4 percent last month. That marks its fourth decline in five months, and widely missing market expectations for a modest recovery from a fall in October.

Meanwhile, separate data from the central bank shows the country’s current account surplus more than doubled from October to a record of nearly 5 billion U.S. dollars in November. That’s in light of imports in November falling by a seasonally adjusted 6 percent from the previous month, the sharpest decline since Mid-2008.

Analysts say these indicators could drag sentiment further down for the South Korean economy.


Editor:Zhang Rui |Source: CNTV.CN

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