South Korea's Industrial Output Declined 0.7% in November, Export Slowdown and Weakened Business Confidence

According to government data released on Monday, South Korea's industrial output decline in November exceeded expectations, primarily due to a slowdown in exports and weakened business confidence. Specifically, the seasonally adjusted industrial output index (KRIO=ECI) fell by 0.7% month-on-month, while the previous month's data remained unchanged. In contrast, a Reuters survey of economists had anticipated a decline of 0.4%.

Statistics Korea reported that compared to the same period last year, the index only increased by 0.1%, far below last month's 6.3% increase and the economists' expectation of 0.4%.

Additionally, South Korea's export growth rate slowed to its lowest level in 14 months, especially exports to the United States and China, which fell due to tariff uncertainties. Meanwhile, the country's business confidence index dropped to its lowest point in over four years.