Korea Industry


Industrial production accelerates in December

In December, industrial production expanded 2.6% over the same month of the previous year, which contrasted the 0.8% contraction observed in November. December's expansion came in above market expectations of a 1.7% rise.

Compared to the previous month, industrial output surged 3.4% in seasonally-adjusted terms and marked an increase over the 0.1% expansion recorded in November. Reflecting the strong reading, annual average growth in industrial output edged up from minus 0.3% in November to minus 0.1% in December.

FocusEconomics Consensus Forecast panellists expect industrial production to rise 1.8% in 2014, which is down 0.3 percentage points from last month's forecast. For 2015, participants expect industrial output to pick up to 4.9%.

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Korea Industry Chart

Korea Industry December 2013

Note: Year-on-year and annual average growth rate in %.
Source: Korea National Statistics Office (KOSTAT) and FocusEconomics calculations.

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