SEOUL, Dec 28 (Reuters) - South Korea's November factory output posted the fastest gain since May 2022 on soaring chip production, official data showed on Thursday.
The industrial output index increased 5.3% in November from a year earlier, according to Statistics Korea, beating a median estimate of a 3.0% gain tipped in a Reuters survey.
Semiconductor production soared 42.4% from a year earlier, boosting the country's factory output even as that of machines and other electric components dropped 13.8% and 9.9% each, Statistics Korea report showed.
From a month earlier, the index gained 3.3%, also beating a 1.0% increase projected in the survey.
On Wednesday, a Reuters poll showed South Korea's exports likely rose for a third month in December as stronger semiconductor exports were seen supporting the country's economic recovery into the new year.
Reporting by Cynthia Kim and Youn Ah Moon in Seoul Editing by Leslie Adler and Matthew Lewis
Source: Reuters