-South Korea’s factory production unexpectedly jumped in May, led by cars and chips, official data showed on Friday, while retail sales also rose last month in an encouraging sign for a slowly recovering economy.
SEOUL
The industrial output index rose 3.2 percent in May on a seasonally-adjusted monthly basis, the Statistics Korea data showed, compared with losses of 0.6 percent in April and 0.8 percent tipped in a Reuters survey.By product, output of automobiles jumped 8.7 percent and semiconductors rose 4.4 percent over the month, whereas communication devices slumped 16.9 percent.
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