South Korean industrial output rises more than expected on strong car, chip exports


AFP

SEOUL–South Korea’s industrial output grew faster than expected in December thanks to strong exports of computer chips and cars, official figures showed Monday. The statistic is a fresh indication that Asia’s fourth-largest economy is starting the year in good shape.

Figures released last week showed 2010 economic growth at an eight-year high of 6.1 percent, while the government expects growth of around five percent this year. Mining and manufacturing output rose 2.8 percent in December from a month earlier, Statistics Korea said, faster than the 1.6 percent increase forecast by economists polled by Dow Jones Newswires.