Industry in Korea
Korea - Industry
Industrial output growth speeds up in September
Industrial production grew 1.5% year on year in seasonally-adjusted terms in September (August: +0.8% s.a. yoy). Looking at the details of the release, manufacturing production shrank at a sharper pace in September, while electricity, gas and steam output decreased at a more moderate pace. Meanwhile, mining and quarrying production expanded.
On a monthly basis, industrial production fell 1.8% in seasonally adjusted terms in September, which was greater than August’s 1.4% fall and marking the worst result since April. Meanwhile, annual average industrial production growth rose to 4.1% in September (August: +4.0%), signaling an improving trend in the industrial sector.
FocusEconomics panelists see the economy growing 1.8% in 2023, which is down 0.1 percentage points from last month’s forecast. For 2024, they see the economy growing 2.4%.
Korea - Industry Data
|Industrial Production (annual variation in %)||-0.3||2.2||2.7||1.6||-0.1|
5 years of economic forecasts for more than 30 economic indicators.
Korea Industry Chart
Source: Korea National Statistics Office and FocusEconomics calculations.
|Bond Yield||1.68||1.55 %||Dec 31|
|Exchange Rate||1,156||0.21 %||Dec 31|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
November 23, 2022
Manufacturing firms’ month-ahead business confidence fell to 69.0 in December from November's 73.0.
November 22, 2022
Consumer confidence fell to 86.5 in November from October's 88.8, meaning the index remained below the 100-point threshold, indicating worsening pessimism among consumers.
November 2, 2022
Inflation ticked up to 5.7% in October, following September’s 5.6%.
November 1, 2022
Merchandise exports fell 5.7% in annual terms in October, on the heels of September’s 2.7% rise.
November 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) came in at 48.2 in October, up from September's 47.3.